Paragraph 2

Section 20 (triggering event: duties of trustees) has effect as if—

(a)

the existing text were numbered subsection (1);

(b)

before that subsection there were inserted—

“(A1)
If a triggering event occurs in relation to an existing Master Trust scheme on or after 20 October 2016 but before the commencement date, the trustees must comply with the notification requirements applicable to them (see sections 22 and 25).”;

(c)

in subsection (1), for “a Master Trust scheme” there were substituted “ an existing Master Trust scheme on or after the commencement date ”.