OpenLegislation

Section 29 Persons disqualified for being trustees.I1C1

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to subsection (5), a person is disqualified for being a trustee of any trust scheme if—

(a)

he has been convicted of any offence involving dishonesty or deception,

(b)

he has been F1made bankrupt or sequestration of his estate has been awarded and (in either case) he has not been discharged F2or he is the subject of a bankruptcy restrictions order or an interim F3bankruptcy restrictions order,

(ba)

F4a moratorium period under a debt relief order (under Part 7A of the Insolvency Act 1986) applies in relation to him or he is the subject of a debt relief restrictions order or an interim debt relief restrictions order (under Schedule 4ZB of the Insolvency Act 1986),

(c)

where the person is a company, if any director of the company is disqualified under this section,

(d)

where the person is a Scottish partnership, if any partner is disqualified under this section,

(e)

he has made a composition contract or an arrangement with, or granted a trust deed for the behoof of, his creditors and has not been discharged in respect of it, or

(f)

he is F5subject to a disqualification order or disqualification undertaking under the Company Directors Disqualification Act 1986 or the Company Directors Disqualification (Northern Ireland) Order 2002 or to an order made under section 429(2)(b) of the M1Insolvency Act 1986 (failure to pay under county court administration order).

(2)

In subsection (1)—

(a)

paragraph (a) applies whether the conviction occurred before or after the coming into force of that subsection, but does not apply in relation to any conviction which is a spent conviction for the purposes of the M2Rehabilitation of Offenders Act 1974,

(b)

paragraph (b) applies whether the adjudication of bankruptcy or the sequestration F6or the making of the bankruptcy restrictions order or an interim order occurred before or after the coming into force of that subsection,

(c)

paragraph (e) applies whether the composition contract or arrangement was made, or the trust deed was granted, before or after the coming into force of that subsection, and

(d)

paragraph (f) applies in relation to orders made before or after the coming into force of that subsection.

(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

The Authority may, on the application of any person disqualified under this section—

(a)

give notice in writing to him waiving his disqualification,

(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

either generally or in relation to a particular scheme or particular F9description of schemes.

(6)

A notice givenF10... at any time by virtue of subsection (5) cannot affect anything done before that time.

Annotations

Textual amendments

F1

Word in s. 29(1)(b) substituted (6.4.2016) by The Enterprise and Regulatory Reform Act 2013 (Consequential Amendments) (Bankruptcy) and the Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) Regulations 2016 (S.I. 2016/481), reg. 1, Sch. 1 para. 11(3)

F2

Words in s. 29(1)(b) inserted (29.6.2006) by The Enterprise Act 2002 (Disqualification from Office: General) Order 2006 (S.I. 2006/1722), art. 1(1), Sch. 2 para. 5(a)

F3

Words in s. 29(1)(b) inserted (1.10.2012) by The Tribunals, Courts and Enforcement Act 2007 (Consequential Amendments) Order 2012 (S.I. 2012/2404), art. 1, Sch. 2 para. 34(3)(a) (with art. 5)

F4

S. 29(1)(ba) inserted (1.10.2012) by The Tribunals, Courts and Enforcement Act 2007 (Consequential Amendments) Order 2012 (S.I. 2012/2404), art. 1, Sch. 2 para. 34(3)(b) (with arts. 5, 9)

F5

Words in s. 29(1)(f) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 155(4) (with art. 10)

F6

Words in s. 29(2)(b) inserted (29.6.2006) by The Enterprise Act 2002 (Disqualification from Office: General) Order 2006 (S.I. 2006/1722), art. 1(1), Sch. 2 para. 5(b)

F7

S. 29(3)(4) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

F8

S. 29(5)(b) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

F9

Word in s. 29(5) substituted (9.12.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 45; S.I. 2005/3331, art. 2(2), Sch. Pt. 2

F10

Words in s. 29(6) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

Marginal citations

M1

1986 c. 45.

M2

1974 c. 53.

Modifications

C1

Ss. 27-30 applied (with modifications) (11.11.1999 for specified purposes, 1.10.2000 in so far as not already in force) by Welfare Reform and Pensions Act 1999 (c. 30), s. 89(5)(a), Sch. 1 para. 1(1)(2)(b)(ii); S.I. 2000/1047, art. 2(2)(c), Sch. Pt. 3 (as amended (9.12.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 76(2)(b); S.I. 2005/3331, art. 2(2), Sch. Pt. 2)

Commencement

I1

S. 29 in force at 6.4.1997 by S.I. 1997/664, art. 2(3), Sch. Pt. 3