OpenLegislation

Section 30 Persons disqualified: consequences.I1C1

England, Wales and Scotland

(1)

F1Where a person who is a trustee of a trust scheme becomes disqualified under section 29 in relation to the scheme, his becoming so disqualified has the effect of removing him as a trustee.

(2)

Where—

(a)

a trustee of a trust scheme becomes disqualified under section 29, F2...

(b)

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

the Authority may exercise F3by order the same jurisdiction and powers as are exercisable by the High Court or, in relation to a trust scheme subject to the law of Scotland, the Court of Session for vesting any property in, or transferring any property to, the trustees.

(3)

A person who purports to act as a trustee of a trust scheme while he is disqualified under section 29 is guilty of an offence and liable—

(a)

on summary conviction to a fine not exceeding the statutory maximum, and

(b)

on conviction on indictment, to a fine or imprisonment or both.

(4)

An offence under subsection (3) may be charged by reference to any day or longer period of time; and a person may be convicted of a second or subsequent offence under that subsection by reference to any period of time following the preceding conviction of the offence.

(5)

Things done by a person disqualified under section 29 while purporting to act as trustee of a trust scheme are not invalid merely because of that disqualification.

(6)

Nothing in section 29 or this section affects the liability of any person for things done, or omitted to be done, by him while purporting to act as trustee of a trust scheme.

(7)

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

(8)

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

Annotations

Textual amendments

F1

S. 30(1) substituted (6.4.2005) by Pensions Act 2004 (c. 35), ss. 37, 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7

F2

S. 30(2)(b) and preceding word repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

F3

Words in s. 30(2) inserted (9.12.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 46(a); S.I. 2005/3331, art. 2(2), Sch. Pt. 2

F4

S. 30(7)(8) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 46(b), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

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