89Monitoring and reporting in relation to compliance plan

89 Monitoring and reporting in relation to compliance plan (1) At regular intervals, and at least once every 3 months, the trustees of a scheme must monitor the extent to which the scheme complies with the compliance plan. (2) The trustees must immediately give the Minister written notice of any breach of the compliance plan that, in the trustees' opinion, will have a material adverse effect on the scheme. (3) The trustees may form the opinion mentioned in subregulation (2) if, in their opinion, the breach will have a material adverse effect on any of the following: (a) the ability of the trustees to perform any of their duties and obligations under the trust deed; (b) the value of the scheme's assets; (c) the interests of beneficiaries.

Chapter 3 Fidelity fund schemes and approved schemes Part 3.4 Approved schemes – prudential standards Division 4 Records, plans and reports Building (RBI and Fidelity Fund Schemes) Regulations 2012 49