43. On 15 April 1997 the solicitors reported to the trustee-directors on the changes which would be needed to update the trust documentation to take into account the changing statutory requirements, and the establishment of the M Plan. Its report said that

"When the 1995 Rules were executed the Plan provided [db] pension benefits by reference to the ... C Plan ... and N Plan. One of the paramount reasons why it is important that the new Rules are adopted as quickly as possible in 1997 is that fact that it was decided to introduce a `money purchase' ... section to be known as the `M Plan' which came into operation with effect from 6 April 1997."