241 Requirement for member-nominated trustees
Pensions Act 2004 (2004 c 35) | Legislation

Requirements for member-nominated trustees and directors

241  Requirement for member-nominated trustees

(1)     The trustees of an occupational trust scheme must secure—

(a)     that, within a reasonable period of the commencement date, arrangements are in place which provide for at least one-third of the total number of trustees to be member-nominated trustees, and

(b)     that those arrangements are implemented.

(2)     “Member-nominated trustees” are trustees of an occupational trust scheme who—

(a)     are nominated as the result of a process in which at least the following are eligible to participate—

(i)     all the active members of the scheme or an organisation which adequately represents the active members, and

(ii)     all the pensioner members of the scheme or an organisation which adequately represents

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