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.