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Paragraph 4.1

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

The Trustees shall hold and manage the Fund under irrevocable trusts and shall administer the Scheme in such a way as to:

(a)

confirm the purpose of the Scheme as the provision of relevant benefits as defined in section 612(1) of the Taxes Act for and in respect of such employees and directors (or former employees and directors) of the Employers as shall become Members; and

(b)

obtain the approval or maintain the continued approval of the Scheme as an exempt approved scheme for the purposes of the Taxes Act.