Director's cut

I was interested to read District Judge Ivor Weintroub's informative article on unfit directors - the amended position (see [2001] Gazette, 3 May, 50).

As legal director of the regulator for occupational pension schemes, I wonder whether I might be permitted to expand upon it.

The fact of a director's disqualification will automatically disqualify that director from acting as a trustee of an occupational pension scheme under section 29 of the Pensions Act 1995.

Many directors of companies also act as trustees of the pension scheme they provide for their employees (and indeed themselves).This seems to be an issue frequently overlooked both by the court and by those disqualified.

Acting as a trustee of an occupational pension scheme while disqualified is itself a criminal offence under section 30 of the Pensions Act 1995.Anyone found guilty would be liable on summary conviction to a fine not exceeding the statutory maximum of 5,000 - or, on conviction on indictment, to an unlimited fine or imprisonment or both.Jennifer Kreser, legal director, Occupational Pensions Regulatory Authority