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- Establishing which requirements apply - MNTs or MNDs? .
Member-nominated trustees and member-nominated directors
Member-nominated trustees and member-nominated directors
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Establishing which requirements apply - MNTs or MNDs?
Whether a scheme needs MNTs or MNDs depends upon the constitution of the trustee body.The MND requirements apply when the trustee body is a company or all companies and there are no individuals as trustees. Where the trustee body is made up of individuals or a mix of individuals and companies, the MNT requirements apply. Paragraphs 19 – 21 of the code of practice provide more information.
Trustees should review the make-up of the trustee body in the trust deed and rules to establish whether it is the MNT or MND requirements which apply to their scheme.
The next step for trustees is to establish whether any of the legal exemptions apply.
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| Related documents |
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| MNT/MND code of practice (PDF) |