Requirement for knowledge and understanding: supplementary
226.—(1) For the purposes of Articles 224 and 225, a person’s functions as trustee of a relevant scheme are any functions which he has by virtue of being such a trustee and include, in particular—
(a)any functions which he has as one of the trustees authorised under Article 34(5)(a) of the 1995 Order (delegation of investment discretions) in the case of the scheme, and
(b)any functions which he otherwise has as a member of a committee of the trustees of the scheme.
(2) Regulations may provide for any provision in Article 224 or 225—
(a)not to apply, or
(b)to apply with modifications,
to a trustee in prescribed circumstances.
(3) Nothing in either of those Articles affects any rule of law requiring a trustee to have knowledge of, or expertise in, any matter.