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Pensions Bill

Surely to goodness, the noble Lord is still thinking of the original operation of the trustees. I was thinking much further ahead. I have no doubt that the needs of the trustees will change over the next century or so. Principles and functions are two very different things, as I was about to say when he interrupted me. Of course, I readily understand that the trustees will operate under existing trust law and, indeed, any other trust law that happens to come about over the next X years, but the Bill does not give them any principles by which to work. I shall not press the amendment today, but I will think very carefully about it before the next stage. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.