The statutory requirement for an independent trustee1 applies in relation to a trust scheme2:
(1) if a person ('the practitioner') begins to act as an insolvency practitioner3 in relation to a company4 which, or an individual who, is the employer5 in relation to the scheme6; or
(2) if the official receiver becomes the liquidator or provisional liquidator of a company which is the employer in relation to the scheme, the interim receiver of the property of a person who is the employer in relation to the scheme, or the receiver and the manager, or the trustee, of the estate
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234