Part IU.K. Occupational pensions

Functions of trusteesE+W+S

32 Decisions by majority.E+W+S

(1)Decisions of the trustees of a trust scheme may, unless the scheme provides otherwise, be taken by agreement of a majority of the trustees.

(2)Where decisions of the trustees of a trust scheme may be taken by agreement of a majority of the trustees—

(a)the trustees may, unless the scheme provides otherwise, by a determination under this subsection require not less than the number of trustees specified in the determination to be present when any decision is so taken, and

(b)notice of any occasions at which decisions may be so taken must, unless the occasion falls within a prescribed class or description, be given to each trustee to whom it is reasonably practicable to give such notice.

(3)Notice under subsection (2)(b) must be given in a prescribed manner and not later than the beginning of a prescribed period.

(4)This section is subject to sections 8(4)(b) [F1and 25(2) of this Act and section 241(6) of the Pensions Act 2004].

(5)If subsection (2)(b) is not complied with, [F2section 10 applies] to any trustee who has failed to take all such steps as are reasonable to secure compliance.