A body corporate called the Board of the Pension Protection Fund (in the Pensions Act 2004 referred to as 'the Board') is established to provide compensation for members of certain occupational pension schemes in the event of the insolvency of the scheme's sponsoring employer and where the pension scheme is under-funded at a certain level1.
The Board is to consist of the following members: (1) a chairman; (2) the Chief Executive of the Board; and (3) at least five other persons ('ordinary members')2. The chairman must not be appointed from the staff of the Board or be the chairman of
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
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