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SCHEDULES

SCHEDULE 1The Occupational Pensions Board

Proceedings

12The quorum of the Board and the arrangements relating to their meetings shall be such as the Board may determine.

13The validity of the proceedings of the Board shall not be affected by any vacancy among the members or by any defect in the appointment of a member.

14(1)Where the Board give a decision on any matter dealt with by them by means of a formal hearing, or on review, they shall furnish a statement, either written or oral, of the reasons for the decision if they are requested, on or before the giving or notification of the decision, to state their reasons.

(2)Any statement by the Board of their reasons for a decision, whether the statement is given by them in pursuance of this paragraph or otherwise, shall be taken to form part of the decision and accordingly to be incorporated in the record.