C1C2C4Part I Occupational pensions

Annotations:
Modifications etc. (not altering text)
C4

Pt. I: Pensions Act 2004 (c.35), Pt. 3 construed as one with Pt. I of this Act (4.12.2005 for specified purposes, 30.12.2005 in so far as not already in force) by Pensions Act 2004 (c. 35), ss. 233, 322(1) (with s. 313); S.I. 2005/3331, art. 2(1)(a)(b), Sch. Pt. 1

Trustees: general

I1C329 Persons disqualified for being trustees.

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 F10made bankrupt or sequestration of his estate has been awarded and (in either case) he has not been discharged F5or he is the subject of a bankruptcy restrictions order or an interim F8bankruptcy restrictions order,

F9ba

a 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 F7subject 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.

F13

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F14

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5

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

a

give notice in writing to him waiving his disqualification,

F2b

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

either generally or in relation to a particular scheme or particular F4description of schemes.

6

A notice givenF3... at any time by virtue of subsection (5) cannot affect anything done before that time.