Paragraph 18.2 Trustee indemnity

Where any action, claim or demand arises in connection with one Section only out of anything done or caused to be done or omitted (whether by way of investment or otherwise) by the Trustees and the Secretary, and employees of the Employers acting under the instructions of the Trustees or the Secretary, those persons are indemnified by the Employers participating in that Section against such actions, claims or demands, and costs arising from them (except an act or omission which any such person knew to be a breach of trust and which he knowingly and wilfully committed or omitted, as the case may be). Such indemnity shall be in proportion to the values of the accrued interests of those Employers' employees who are Current Members and the Pensioners in that Section, or on another basis determined by the Trustees which would not prejudice approval of the Scheme under Chapter I of Part XIV of the Taxes Act.