{
  "url": "https://openlegislation.uk/financial-services-act-1986-occupational-pension-schemes-no2-order-1988/article-3",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-occupational-pension-schemes-no2-order-1988/article-3.json",
  "legislation": "uksi/1988/724",
  "legislation_title": "The Financial Services Act 1986 (Occupational Pension Schemes) (No.2) Order 1988",
  "legislation_url": "https://openlegislation.uk/financial-services-act-1986-occupational-pension-schemes-no2-order-1988",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Relevant Schemes",
  "text": "(1) For the purposes of this Order a scheme is a relevant scheme if it is an occupational pension scheme of a kind described in paragraph (2) or (3) below.\n(2) A scheme falls within this paragraph if—\n(a) it is constituted under an irrevocable trust;\n(b) it has no more than twelve relevant members;\n(c) all relevant members, other than any relevant member who is unfit to or incapable of acting as a trustee of the scheme, are trustees of it; and\n(d) all decisions, or all day to day decisions, relating to the management of assets of the scheme which are investments are required to be taken by all, or a majority of, relevant members who are trustees of the scheme or by a person of the kind described in section 191(2)(a), (b) or (c) of the Act acting either alone or jointly with all, or a majority of, relevant members who are trustees.\n(3) A scheme falls within this paragraph if—\n(a) it has no more than 50 members;\n(b) the contributions made by or in respect of each member of the scheme are used in the acquisition of a contract of insurance on the life of that member or of a contract to pay an annuity on that life;\n(c) the only decision of a kind referred to in section 191(2) of the Act is the selection of such contracts; and\n(d) each member is given the opportunity to select the contract which contributions made by or in respect of him will be used to acquire.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/724/article/3",
    "retrieved_at": "2026-10-29T16:07:45.113008+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}