Commentary on Sections Obligations of trustees of occupational schemes Section 248: Requirement for knowledge and understanding: corporate trustees
905.This section essentially reproduces the provisions of section 247 in respect of corporate trustees. It requires a corporate trustee to ensure that any individual who exercises any trustee functions that the company has is conversant with the scheme documents and to have the knowledge and understanding outlined at section 247, in so far it is relevant to the functions performed by that individual.