Section 243 Member-nominated trustees and directors: supplementaryI1

England, Wales and Scotland

(1)

The Secretary of State may, by order, amend sections 241(1)(a) and (4) and 242(1)(a) and (4) by substituting, in each of those provisions, “one-half” for “one-third”.

(2)

Regulations may modify sections 241 and 242 (including any of the provisions mentioned in subsection (1)) in their application to prescribed cases.

(3)

In sections 241 and 242—

“company” means a company F1as defined in section 1(1) of the Companies Act 2006 or a company which may be wound up under Part 5 of the Insolvency Act 1986 (c. 45) (unregistered companies);
“occupational trust scheme” means an occupational pension scheme established under a trust.

Annotations

Textual amendments

F1: Words in s. 243(3) 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. 243(9) (with art. 10)

Commencement

I1: S. 243 in force at 1.11.2005 by S.I. 2005/2447, art. 2(2)