# The Occupational Pension Schemes (Master Trusts) Regulations 2018, Paragraph 5


A Master Trust scheme and each scheme funder must meet the following requirements in relation to the scheme’s financing—
(a) any assets held by the trustees or a scheme funder to meet the costs mentioned in section 8(3) of the Act must be—
(i) of the classes and in the proportions set out in a Code,
(ii) valued in accordance with any discounted rates set out in a Code, and
(iii) available to be used when the relevant cost falls due;
(b) the scheme’s trustees must have first call on the assets referred to in sub-paragraph (a);
(c) any funding commitment made to the scheme by a scheme funder or an employer must be given in writing and duly executed by the party making the commitment;
(d) where a scheme funder operates more than one Master Trust scheme, the funds allocated to each scheme must be separately identified to the Regulator;
(e) where the assets include cash in a greater proportion than that set out in a Code, the Regulator may require trustees to hold a proportion of the assets set out in a Code in a separate account kept with a deposit taker as defined in section 49(8A) of the 1995 Act (other responsibilities of trustees, etc).

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111170533/schedule/2/paragraph/5 (the official version)
Page: https://openlegislation.uk/draft-occupational-pension-schemes-master-trusts-regulations-2018/schedule-2/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.