PART VIOCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS

Obligations of trustees of occupational pension schemes

Requirement for knowledge and understanding: supplementaryI1226

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.