Commentary on Sections Requirements for member-nominated trustees and directors Section 243: Member-nominated trustees and directors: supplementary
887.Subsection (1) is an order making power that permits the Secretary of State to change the minimum proportion of member-nominated trustees or directors from one-third to one-half.
888.Subsection (2) is a modification power that will be used to modify application of the provision in prescribed circumstances, for example to disregard independent trustees for the purpose of calculating the minimum number of member-nominated trustees or directors.
889.Subsection (3) defines the terms “company” and “occupational trust scheme” for the purposes of sections 242 and 243.