8.—(1) An explanation of—
(a)the design of the scheme;
(b)the reasons why the trustees consider the design of the scheme to be sound and the evidence on which this consideration is based.
(2) The evidence referred to in sub-paragraph (1)(b) must include the documents prepared by—
(a)the scheme actuary for the purposes of regulation 10(3)(b);
(b)the trustees for the purposes of regulation 10(3)(c).
9. The explanation required by paragraph 8(1) must include—
(a)an explanation of how the scheme satisfies the definition of a collective money purchase scheme under section 62(2) of the 2021 Act (collective money purchase benefits and schemes), including—
(i)an explanation of how the requirements of section 54 of the 2021 Act (qualifying schemes) are met in respect of the scheme, and
(ii)where the scheme is a section of a qualifying scheme, an explanation of how the requirements of section 54 of the 2021 Act are met in respect of that section;
(b)an explanation as to why the trustees are satisfied that the rules of the scheme meet—
(i)the requirements of section 69 of the 2021 Act (calculation of benefits);
(ii)the requirements of regulation 17.