Commentary on Sections Part 1: Pension scheme membership for jobholders Chapter 5: Duty to establish a pension scheme Section 75: Trustee corporation
179.Section 75 establishes the trustee corporation which under section 68(1) must be appointed trustee of the scheme. The name of the corporation will be determined by the Secretary of State by statutory instrument. This will allow for completion of research on names that are most appropriate for both the scheme and the trustee corporation.
180.This section also provides for the corporation not to be regarded as the servant or agent of the Crown and not to enjoy any status, immunity or privilege of the Crown, nor can property it holds (including property held in its capacity as trustee) be considered to belong to the Crown.
181.This section introduces Schedule 1 which details the provisions relating to the members, proceedings and funding of the trustee corporation.