374. In general.

An auditor and actuary must be appointed for every occupational pension scheme1; and where the assets of such a scheme consist of or include investments2 there must be an individual or a firm appointed by or on behalf of the trustees or managers3 as fund manager4. If in the case of an occupational pension scheme any person:

  1.  

    (1)     is appointed otherwise than by the trustees or managers as legal adviser or to exercise any prescribed functions5 in relation to the scheme; or

  2.  

    (2)     is appointed otherwise than by or on behalf of the trustees or managers as a fund