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The Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Regulations 2010

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PART 2Exceptions to limits in the table in Part 1

14.  The limit in paragraph 4 of the table does not apply to a Government loan.

15.  The limit in paragraph 6 of the table does not apply if—

(a)the investment is made by an investment manager appointed under regulation 8; and

(b)the single holding is in units or other shares of the investments subject to the trusts of any one unit trust scheme.

16.  The limits in paragraphs 6, 9 and 11 of the table do not apply to—

(a)National Savings Certificates;

(b)fixed-interest securities issued by Her Majesty’s Government in the United Kingdom, the Government of Northern Ireland or the Government of the Isle of Man and registered in the United Kingdom or the Isle of Man or Treasury Bills;

(c)any securities the payment of interest on which is guaranteed by Her Majesty’s Government in the United Kingdom or the Government of Northern Ireland; or

(d)a deposit with a relevant institution.

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