(1) Where an approved trustee of a registered scheme is a company and the office of an officer of the company becomes vacant, an application shall be made to the Authority to seek the consent of the Authority to appoint another officer to replace that officer within thirty days after the occurrence of the vacancy.

(2) A person shall not be appointed to act as an officer in respect of an approved trustee of a registered scheme that is a company except the Authority gives its prior written consent for the appointment.