Search Legislation

The Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Regulations 1998

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)


This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

  1. Introductory Text

  2. Preliminary

    1. 1.Citation and commencement

    2. 2.General definitions

    3. 3.Definition of “investment”

    4. 4.Definition of “investment manager”

  3. Management of pension fund

    1. 5.Management of pension fund

  4. Investment managers

    1. 6.Choice of investment managers

    2. 7.Terms of appointment of investment managers

    3. 8.Review of investment managers' performance

  5. Investments

    1. 9.Use and investment of fund money

    2. 10.Investments under s.11 of the Trustee Investments Act 1961

    3. 11.Limits on investments

    4. 12.Use of fund money by an administering authority

  6. Supplementary

    1. 13.Consequential amendments and revocations

  7. Signature

    1. SCHEDULE 1


      1. PART I

        1. 1% limit

          1. 1.Any single sub-underwriting contract.

        2. 2% limit

          1. 2.All contributions to any single partnership.

        3. 5% limit

          1. 3.All contributions to partnerships.

        4. 10% limit

          1. 4.All deposits with a person specified in paragraph 12 or...

          2. 5.All investments in unlisted securities of companies.

          3. 6.Any single holding (but see paragraphs 13 and 14).

          4. 7.All deposits with any single bank, institution or person (other...

        5. 15% limit

          1. 8.All sub-underwriting contracts.

        6. 25% limit

          1. 9.All investments in– (a) units or other shares of the...

          2. 10.All insurance contracts.

          3. 11.All securities transferred (or agreed to be transferred) by the...


        1. 12.The limit in paragraph 4 does not apply to a...

        2. 13.The limit in paragraph 6 does not apply if–

        3. 14.The limits in paragraphs 6 and 9 do not apply–...


        1. 15.In this Schedule– “collective investment scheme” has the meaning given...

    2. SCHEDULE 2


      1. 1.In regulation 2(1) of the Local Government Pension Scheme (Transitional...

  8. Explanatory Note

Back to top


Print Options


Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.


Opening Options

Different options to open legislation in order to view more content on screen at once


More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources