SCHEDULERegulations of The Standard Life Assurance Company

Borrowing powers

Power to borrow and give security

69The directors may raise or borrow or secure the payment of any sum or sums of money for the purposes of the Company in such manner and upon such terms and conditions in all respects as they think fit and grant such security therefor as may be arranged, charged upon all or any part of the property, assets and rights of the Company, both present and future.