Regulation 7 Implementation of requirements as to member-nominated trustees: generalF1
Subject to the following provisions of this regulation, the trustees of a trust scheme to which section 16 (requirement for member-nominated trustees) applies must secure—
that such arrangements as are required by section 16(1) are made; and
that member-nominated trustees are required to be selected in pursuance of the appropriate rules,
by such times as to secure that the number of such trustees never falls below the number provided for by the arrangements in accordance with section 16(6).
Paragraph (1) does not apply during the period of six months beginning—
in the case of a scheme to which section 16 applies on the commencement date, with that date;
in the case of a scheme to which section 16 first applies after the commencement date, with the date on which it first applies to the scheme;
in the case of a scheme to which section 16 has ceased to apply and then reapplies (otherwise than by virtue of section 17(1) ceasing to apply to it or its ceasing to be a relevant scheme), with the date on which section 16 reapplies to it; and
if—
before the expiry of the period of six months beginning with the date mentioned in paragraph (a), (b) or (c) the employer duly gives notice under regulation 9(1)(a) that he intends to propose alternative arrangements, but
the conditions imposed by regulation 9(1)(b) for the application of section 17(1) are not satisfied within the approval period,
with the opt-out failure date.
A deficiency in the number of member-nominated trustees provided for by the arrangements in accordance with section 16(6) is not a breach of the requirement in paragraph (1) during the appropriate excepted period—
if a vacancy for such a trustee has not been filled because insufficient nominations are received;
if such a trustee has ceased to be a trustee otherwise than by virtue of the expiry of his period of office; or
if the number of members a scheme comprises increases from less than 100 at the end of one scheme year to 100 or more at the end of the next scheme year (“the second year").
In paragraph (3) “the appropriate excepted period" means—
where paragraph (3)(a) applies, the period during which, if there had been sufficient nominations for a member-nominated trustee to be selected by nomination, his selection would have had effect in accordance with the arrangements made under section 16(5) for the scheme;
where paragraph (3)(b) applies, the period of six months beginning with the cessation or the remainder of the trustee’s period of office, if less; and
where paragraph (3)(c) applies, the first six months of the year following the second year.
Annotations
Textual amendments
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Regulations revoked with savings (6.4.2006) by The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 (S.I. 2006/714), regs. 1(1), 6, Sch. (with reg. 4)
Notes on the whole SI
Textual amendments
- F1
Regulations revoked with savings (6.4.2006) by The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 (S.I. 2006/714), regs. 1(1), 6, Sch. (with reg. 4)