The Policyholders Protection Act 1975 (c.75)U.K.
38U.K.In Schedule 1, in paragraph 7, for sub-paragraph (1) (power of Policyholders Protection Board to invest) substitute—
“(1)The Board may invest any funds held by them which appear to them to be surplus to their requirements for the time being—
(a)in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act); or
(b)in any investment approved for the purpose by the Treasury.”