The Occupational Pension Schemes (Investment of Scheme’s Resources) Regulations 1992

Schemes to which Regulation 3 applies

2.—(1) Subject to paragraph (2), regulation 3 applies to schemes—

(a) which either—

(i) are approved for the purposes of Chapter I of Part XIV of the Income and Corporation Taxes Act 1988(1) (retirement benefit schemes) or are the subject of an application for such approval which has not been determined; or

(ii) are exempt from income tax under section 608 of that Act (exemption for superannuation funds approved before 6th April 1980); and

(b) which have at least one member in the United Kingdom and either—

(i) are established in the United Kingdom; or

(ii) have one or more trustees resident in the United Kingdom.

(2) Regulation 3 shall not apply to schemes—

(a) which have less than 12 members;

(b) each of whom is a trustee of the scheme; and

(c) the rules of which provide that before any investment of the resources of the scheme is made in an employer-related investment, each member shall agree in writing to the making of that investment.

(1)

1988 c. 1.