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The Occupational Pension Schemes (Winding Up Notices and Reports etc.) Regulations 2002
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- UK Statutory Instruments
- 2002 No. 459
- Regulation 3
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Schemes within section 22 of the 1995 Act: appointment of independent trustee
3.—(1) A person who is subject to the duty under section 23(1)(b) of the 1995 Act (duty of insolvency practitioner or official receiver to appoint an independent trustee of a trust scheme where he is not satisfied that at least one of the scheme’s trustees is an independent person) must perform that duty before the end of the period of three months beginning with—
(a)the date on which the person first becomes aware that section 22 of that Act applies in relation to the scheme in question, or
(b)the date on which the duty arises,
whichever is the later.
(2) Section 26A(1) of that Act (trustees' obligation to give notice to the Authority as soon as reasonably practicable after it first appears to any of them as mentioned in paragraph (a) and (b) of that subsection) has effect as if for the words “as soon as reasonably practicable” there were substituted the words “within the period of one month”.
(3) Section 26A(2) of that Act (obligation of every person involved in the administration of a scheme to give notice to the Authority as soon as reasonably practicable after it first appears to him that the scheme is without trustees) has effect as if for the words “as soon as reasonably practicable” there were substituted the words “within the period of one month”.
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