# The Occupational Pension Schemes (Investment) Regulations 2005, Regulation 7: Disapplication of regulations 4 and 5 in respect of schemes with fewer than 100 members


(1) Regulations 4 and 5 do not apply to a scheme which has fewer than 100 members.
(2) Where regulation 4 does not apply to a scheme by virtue only of paragraph (1), the trustees of the scheme in exercising their powers of investment, and any fund manager to whom any discretion has been delegated under section 34 of the 1995 Act in exercising the discretion, must have regard to the need for diversification of investments, in so far as appropriate to the circumstances of the scheme.

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Source: https://www.legislation.gov.uk/uksi/2005/3378/regulation/7 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-investment-regulations-2005/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.