317. UK-based scheme to be trust with effective rules.

The following provisions1 apply to an occupational pension scheme2 that has its main administration in the United Kingdom3. If the scheme is not established under irrevocable trusts, the trustees or managers4 of the scheme must secure that no funding payment5 is accepted6. If the rules stipulating: (1) the benefits under the scheme; and (2) any conditions subject to which benefits under the scheme accrue, are not in force, or if those rules are not set out in writing, the trustees or managers of the scheme must secure that no funding payment is accepted7. The above provisions

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