Article 15.

1. A description of the different types of investment (if any) which could be made at the direction of the member (the "investment alternatives").

2. A statement as to which one or more of the investment alternatives will be the default investment strategy which the trustees shall implement in respect of a member unless the member directs the trustees in writing to invest in one or more of the investment alternatives as selected by the trustees. The statement may include a provision that where more than one investment alternative is included by the trustees in the statement under this paragraph, the trustees may decide at the date of investment in which one or more of the investment alternatives, and in what proportions, the trustee will invest.

3. The identity of the investment manager or managers.

4. With respect to each investment alternative, a general description by the trustees of or information received by the trustees in respect of -

(a) its investment objectives;

(b) its risk and return characteristics, and

(c) the type and diversification of assets comprising the portfolio of the investment alternative.

5. With regard to members' directions -

(a) an explanation of when members may give or vary directions;

(b) an explanation of any specified limitations on such directions under the terms of the trust RAC, the investment alternative or otherwise;