While the independent trustee requirement1 applies in relation to a scheme, the Pensions Regulator2 may by order appoint as a trustee of the scheme a person who:
(1) is an independent person in relation to the scheme; and
(2) is registered in the register maintained3 by the Regulator4.
In relation to a particular trust scheme, no more than one trustee may at any time be an independent trustee appointed under this provision5.
For the purposes of these provisions a person is independent in relation to a trust scheme only if:
(a) he has no interest in the assets of the employer6
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