The Knight of the Perilous Lance has earned this name because of his unique jousting skill. He has the uncanny ability to aim his lance at his opponent's weakest point and dodge his opponent's shield at the moment of impact.
Source: Warhammer Armies Project: Unofficial 9th Edition (v2.2)
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All attacks made by the Knight of the Perilous Lance have the Ignores Armour Saves special rule when charging.