The Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Amendment Regulations 2003

Statement of investment principles

3.  In regulation 9A(1) of the principal Regulations–

(a) insert a new paragraph after paragraph (3) as follows:–

“(3A) A statement published after 30th June 2003 must also–

(a) state the extent to which the administering authority comply with the ten principles of investment practice set out in the document published in April 2002 by CIPFA, the Chartered Institute of Public Finance and Accountancy, and called “CIPFA Pensions Panel Principles for Investment Decision Making in the Local Government Pension Scheme in the United Kingdom (Guidance note issue No. 5)”(2); and

(b) give the reasons for not complying where they do not do so.”; and

(b) in paragraph (4), for “paragraph (2)” substitute “paragraphs (2) and (3A)”.

(1)

Regulation 9A was inserted into S.I. 1998/2888 by regulation 5 of S.S.I. 2000/74.

(2)

Published by CIPFA, The Chartered Institute of Public Finance and Accountancy, 3 Robert Street, London WC2N 6RL.