(1) An approved trustee of a registered scheme shall ensure that 

(a) a pension fund manager appointed for a scheme acts in the   interest of the scheme members and shall not connive with other  persons in transactions that relate to investment of the funds of the  scheme,

(b) where a transaction involving the acquisition of an asset for or in relation to a scheme is entered into between relevant persons, the consideration payable for the asset shall not be greater than the prevailing market price,

(c) where  a transaction involving the disposal or lending of an asset for or in relation to the scheme is entered into between relevant persons, the consideration payable for the asset shall not be less than the prevailing market price,

(d) service providers appointed or engaged for a scheme do not retain any payment or benefit from a third party, either directly or indirectly in the acquisition, disposal or lending of scheme assets,

(e) a pension fund manager appointed for a scheme does not acquire or dispose of securities at brokerage rates that exceed the customary institutional full-service brokerage rates applicable to the acquisition and disposal of securities; and

(f) The acquisition or disposal of securities is done in accordance with the best commercial practice applicable to the preparation and execution of financial transactions.

(2) For the purposes of sub regulations (b) and (c) relevant persons are

(a) the approved trustee and any service provider appointed or engaged for the purposes of the scheme;

(b) the participating employers of scheme members; or

(c) Associates of any of the participating employers of a scheme   member, or of a service provider appointed or engaged for the purposes of the scheme.

(3) Sub regulation (d) shall not prevent a third party from providing the service providers with goods or services that are of demonstrable benefit to the scheme or scheme members.