Explanatory Memorandum

Pension Schemes Act (Northern Ireland) 2016

2016 CHAPTER 1

15 January 2016

Commentary on Sections

Part 2 – Collective Benefits

Section 17: Restriction on borrowing by trustees or managers

This section provides for a power to make regulations to prohibit trustees or managers of schemes containing collective benefits from borrowing money or acting as a guarantor, except in specified cases.  This also applies to anyone to whom the trustees or manager have delegated decisions about collective benefit investments.