GLOSSARY

Prescribed rules definition

What does Prescribed rules mean?

Prior to the Pensions Act 2004, these were rules in the MNT (member nominated trustees) legislation providing a system for choosing member-nominated trustees/directors. These rules were required to be put in place for choosing member-nominated trustees/directors if:the sponsoring employer's proposals for alternative arrangements; or the trustee's proposals for appropriate rules (or both) have failed; or if it has been decided to adopt the default procedure.


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