Commentary on Sections Trustees of occupational pension schemes Section 33: Prohibition orders
121.This section substitutes a new section 3 of the Pensions Act 1995 (prohibition orders). The new section enables the Regulator to prevent a person from acting as a trustee, either in relation to a particular scheme or a particular description of trust schemes or trust schemes in general, wherever it considers that the person is not a “fit and proper” person to act as such. It is expected that the Regulator will have regard to certain considerations when deciding whether a trustee is fit and proper to act as such, including (but not limited to):
	the trustees’ probity, competence and soundness of judgement;
	the diligence with which he is fulfilling his responsibilities as trustee;
	whether the interests of members of the scheme or schemes in question are in the opinion of the Regulator being prejudiced by his acting as trustee;
	whether he has contravened any provision of the pensions legislation relating to the provision or management of pensions in a country or territory outside Great Britain.
122.The Regulator will issue guidance on how it will interpret the term “fit and proper”.
123.By virtue of subsection (2) of this substitute section, where a prohibition order is made under subsection (1) against a person in respect of one or more schemes of which he is a trustee, the order will have the effect of removing him as a trustee from all schemes to which the order relates.