Commentary on Sections Summary Establishment Sections 107, 108 and 109: The Board of the Pension Protection Fund; Membership of the Board, Further provision about the Board
336.A body corporate known as the Board of the Pension Protection Fund is established by section 107.
337.The Board is to consist of a chairman appointed by the Secretary of State; a Chief Executive appointed by the Board with the approval of the Secretary of State (although the first Chief Executive will be appointed by the Secretary of State); and at least five ordinary members appointed by the Board, at least two of which must be appointed from the staff of the Board. A maximum number of ordinary Board members may be prescribed by secondary legislation.
338.The executive members of the Board are the Chief Executive and the two or more members appointed from the staff of the Board. All other members of the Board, including the chairman, will be “non-executive members” and a majority of the Board must be non-executive members.
339.Further provision about the Board is set out in Schedule 5.