PART 2Collective benefits
Investment
18Investment powers: duty of care
1
Regulations may make provision to prevent any instrument or agreement from excluding or restricting any liability of the trustees or managers of a pension scheme, or any person to whom they have delegated decisions, in respect of the performance of investment functions involving collective benefit investments.
2
The regulations may, in particular—
a
make provision corresponding or similar to any provision made by section 33 of the Pensions Act 1995 (duty of care in respect of investment powers for occupational trust-based schemes);
b
disapply that section in relation to collective benefit investments.