B1.—(1) The provisions of Schedule 1 to these Regulations shall have effect with respect to the number, qualification and proceedings of Trustees of the Fund, the distribution of functions between the Custodian Trustee and the Managing Trustees, the administration of the Fund and the management and application of the assets of the Fund.
(2) All pensions and other sums payable under these Regulations by the Trustees, including contributions equivalent premiums and transfer premiums payable in respect of former participants, shall be paid out of the Fund, and all sums received by the Trustees under these Regulations shall be paid into the Fund.