41Dealing with claim

41 Dealing with claim (1) The scheme's trust deed must specify the following matters: (a) subject to paragraphs (b) and (c) – the way in which a claim under a certificate is to be dealt with by the trustees; (b) the trustees must consider a claim and decide whether or not the trustees will make a payment from the assets of the scheme to the claimant; (c) if the trustees decide to make a payment to a beneficiary – the trustees must decide: (i) the amount of the payment; and (ii) the terms and conditions on which the trustees will make the payment. (2) The trust deed must specify that it is a condition of a payment made to a beneficiary that the trustees may take whatever action they consider appropriate in the name of the beneficiary against the

Chapter 3 Fidelity fund schemes and approved schemes Part 3.2 Approval criteria Division 4 Claim under fidelity certificate Building (RBI and Fidelity Fund Schemes) Regulations 2012 24 builder to recover from the builder any amount paid by the trustees to the beneficiary. (3) For regulation 8(2)(a), the trust deed may specify that the trustees may make reasonable inquiries about the builder's whereabouts even if the beneficiary has already done so. (4) The trust deed must also specify that if more than one claim is made under a certificate, the total amount that can be paid to all the beneficiaries must not exceed the amount that is stated on the certificate.