The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001

8. TRUSTEES' DUTIES AND GENERAL POWERS

8.1  The Trustees shall be the Administrator of the Scheme for the purposes of Chapter I of Part XIV of the Taxes Act(1).

8.2  The Trustees shall meet for the despatch of business relevant to the Scheme and each Section at intervals not exceeding six months and shall do such things as they shall consider necessary for the proper administration of the Scheme and each Section.

8.3  The Trustees shall have all powers rights and privileges in connection with the Scheme and each Section requisite or proper to enable them to carry out or execute or do any transaction act deed or thing arising under or in connection with the Scheme or each Section.

8.4—(a) The Trustees shall have power from time to time to delegate any business in relation to the Scheme or a Section to one or more of their number.

(b) The Trustees shall have power to delegate to any reputable person, firm or corporation all or any of the powers, duties, authorities and discretions (including, subject to the provisions of section 34 of the Pensions Act 1995(2), investment decisions) hereby conferred on the Trustees on such occasion or for such period and otherwise on such terms and conditions as the Trustees may think fit and the Trustees shall not be bound to supervise the exercise of the said powers, duties, authorities and discretions or the performance thereof by such person, firm or corporation and shall not be responsible for any loss incurred as a result of such delegation or for the negligence or default of any such person, firm or corporation.

8.5  The Trustees shall have power to authorise such persons and employ such agents and staff to transact any business relevant to the Scheme or any Section, including the drawing of cheques and making payments and giving receipts, as the Trustees may think fit and any such payment duly made in good faith by such persons agents or staff shall operate as a good and sufficient discharge to the Trustees, and any receipt and discharge given by such persons agents or staff shall be as valid and as effectual as if it were given by the Trustees. The Trustees shall not incur any liability or responsibility whatsoever in respect of any business transacted by any person, agents or staff authorised or employed in good faith in accordance with this Clause 8.5.

8.6  The Trustees shall have power to obtain the advice or opinion of any lawyer, broker, actuary, accountant, medical practitioner or other professional person with regard to their powers duties and discretions in relation to the Scheme or a Section wherever they feel it necessary or expedient and to rely and act upon any advice so obtained without incurring any liability or responsibility whatsoever in the event of the negligence or default of any such person or in the event of any action taken by the Trustees as a result of such advice proving subsequently to be incorrect or inadequate.

8.7  The Trustees shall, have power to make arrangements for the remuneration of the persons or bodies referred to in Clauses 8.5 and 8.6 above upon such terms as they shall think fit and any amounts so paid shall be deemed to be part of the expenses incurred by the Trustees in carrying out the trusts and provisions of the Scheme or the relevant Section (under Clause 13).

8.8  The Trustees shall have power (whether as Trustees or Administrator) to give undertakings to the Board of Inland Revenue.

8.9  The Trustees shall secure that such arrangements as are required by or under Section 50 of the Pensions Act 1995 for the resolution of disagreements between persons prescribed for the purposes of that section about matters related to the Scheme or any Section are made and implemented.

8.10  Subject always to Clause 8.9 above, the Trustees shall have power to determine all questions and matters of doubt arising in connection with the Scheme or any Section whether relating to the contributions thereto or the benefits thereunder or otherwise and also to settle compromise or submit to arbitration any claims relating to the Scheme or to the rights of any Member or other beneficiary thereunder and no decision of or exercise of a power or discretion by the Trustees shall be invalidated or questioned on the ground that any of the Trustees had a direct or personal interest in the result of any such decision or in the exercise of any such power or discretion, provided always that in the event of any dispute arising as between the Trustees and any person entitled to or claiming to be entitled to any benefit under the Scheme or any Section such dispute may be referred by such person to a single arbitrator to be named by the President for the time being of the Law Society of England and Wales and the arbitrator so names shall have all the powers conferred on arbitrators by the Arbitration Act 1996(3).

8.11  The Trustees shall have power to insure any or all of the assets of the Scheme for such amount and against such eventualities or risks as they consider appropriate, including the power to effect insurance against any potential loss of or depreciation in such assets and insurance in respect of any loss to the Fund caused by or arising out of any action claim or demand made against the Trustees for loss suffered by the Trustees (or their agents delegated or appointed officers). The premiums for any such insurances shall be apportioned by the Trustees in accordance with Clause 13, provided that no amount shall be paid out of the Section Assets attributable to a Section for the payment of premiums under an insurance policy where the risk is or includes a fine or penalty to which section 31 of the Pensions Act 1995 applies.

8.12  The Trustee shall have power from time to time whenever to do so will in their opinion operate to the advantage of the Fund (either alone or jointly with any other person, body, company or corporation) to form cause to be formed or authorise the formation or winding-up in any part of the world of any company or companies controlled directly or indirectly by the Trustees for any purpose whatsoever relating to the management and administration of the Fund (or of the Fund and other trust funds) or for the supply of financial, technical or professional advice and services of any kind whatsoever to the Trustees (or to the Trustees and other trustees) and the Trustees shall have power to pay out of the relevant Section Assets all or any of the expenses of such formation or winding-up including the preliminary or other expenses of any such company and to acquire hold and dispose of in any manner whatsoever any of the share or loan capital of any such company. A Trustee may hold any office (including without limitation the office of director or secretary) with any such company but shall not be entitled to be paid any remuneration in respect thereof provided that nothing herein contained shall prevent a Trustee from being paid all reasonable and proper expenses incurred by him in and about the performance of his duties in connection with any such office.

(1)

1988 c. 1.

(2)

1995 c. 26.

(3)

1996 c. 23.