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Paragraph 18.7 Trustee insurance

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The Trustees shall have power to take out insurance against any loss caused by or arising out of any action, claim or demand made against any Trustee or former Trustee or any of their delegates or any officer or employee of a corporate trustee. The Trustees may also insure themselves and any of those persons against liability for breach of trust not involving the personal conscious wrongdoing or fraud of the person concerned. The premiums of any such insurance shall be treated as an expense of the Scheme, and dealt with in accordance with Clause 13.2, but subject to section 31 of the Pensions Act 1995.