(1) The trustees of a scheme or trust RAC shall establish and apply a sound remuneration policy determined in accordance with the principles set out in subsection (4) in respect of -
(a) the trustees of the scheme or trust RAC,
(b) persons who carry out key functions,
(c) other categories of staff employed by the trustees of the scheme or trust RAC whose professional activities have a material impact on the risk profile of the scheme or trust RAC, and
(d) a service provider referred to in section 64AM to whom a key function or other activity referred to in that section is outsourced unless such service provider is covered by the Directives specified in subsection (4)(e).
(2) Without prejudice to section 54(1)(b), unless otherwise provided in Regulation (EU) 2016/679 [OJ No. L 119, 4.5.2016, p.1], the trustees of a scheme or a trust RAC shall regularly disclose publicly relevant information regarding their remuneration policy.
(3) The trustees of a scheme or a trust RAC shall comply wit
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