C1C3C4Part 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

Supervision by the Authority

C2C5F13 Prohibition orders.

1

The Authority may by order prohibit a person from being a trustee of—

a

a particular trust scheme,

b

a particular description of trust schemes, or

c

trust schemes in general,

if they are satisfied that he is not a fit and proper person to be a trustee of the scheme or schemes to which the order relates.

2

Where a prohibition order is made under subsection (1) against a person in respect of one or more schemes of which he is a trustee, the order has the effect of removing him.

3

The Authority may, on the application of any person prohibited under this section, by order revoke the order either generally or in relation to a particular scheme or description of schemes.

4

An application under subsection (3) may not be made—

a

during the period within which the determination to exercise the power to make the prohibition order may be referred to F2a tribunal under section 96(3) or 99(7) of the Pensions Act 2004, and

b

if the determination is so referred, until the reference, and any appeal against F3the determination of the tribunal concerned, has been finally disposed of.

5

A revocation made at any time under this section cannot affect anything done before that time.

6

The Authority must prepare and publish a statement of the policies they intend to adopt in relation to the exercise of their powers under this section.

7

The Authority may revise any statement published under subsection (6) and must publish any revised statement.

F48

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