46 Prohibition and suspension orders: directors of corporate trustees
Pensions Act 2014 (2014 c 19) | Legislation

46  Prohibition and suspension orders: directors of corporate trustees

(1)     The Pensions Act 1995 is amended as follows.

(2)     After section 3 insert—

“3A Prohibition orders: directors of corporate trustees etc

(1)     A company or Scottish partnership is prohibited from being a trustee of a trust scheme at any time when an individual who is a director of the company or a partner in the partnership is prohibited from being a trustee of the scheme by an order under section 3.

(2)     Where a company or partnership which is a trustee of a trust scheme becomes prohibited under subsection (1) in relation to the scheme, that subsection has the effect of removing the company

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