A trustee treats classes of beneficiaries fairly against each other, and treats members within one class fairly too (s 52(2)(e)-(f)); keeps the entity's money and assets separate from money and assets held by the trustee personally or by a standard employer-sponsor or its associate (s 52(2)(g)); avoids any contract or other step that would stop it, or get in the way of it, properly carrying out its functions and powers, though this does not stop the trustee engaging or authorising others to act on its behalf (s 52(2)(h), (5)); where the entity has reserves, sets, keeps reviewing and actually follows a prudent management strategy for them that lines up with the investment strategy and the entity's capacity to meet liabilities (s 52(2)(i)); and allows a beneficiary access to any prescribed information or documents (s 52(2)(j)).
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