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

    2. 6.Choice of investment managers

    3. 7.Terms of appointment of investment managers

    4. 8.Review of investment manager’s performance

  4. Investments

    1. 9.Use and investment of pension fund money

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

    3. 11.Restrictions on investments

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

  5. Supplementary

    1. 13.Consequential amendments and revocations

  6. Signature

    1. SCHEDULE 1

      LIMITS ON INVESTMENTS

      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...

      2. PART II EXCEPTIONS TO LIMITS IN PART I

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

        2. 13.The restriction in paragraph 6 does not apply if—

        3. 14.The restrictions in paragraphs 6 and 9 do not apply—...

      3. PART III

        INTERPRETATION

    2. SCHEDULE 2

      CONSEQUENTIAL AMENDMENTS

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

      2. 2.In regulation 3(9) of those regulations after the words “the...

      3. 3.In regulation 2(1) of the Transitional Regulations—

  8. Explanatory Note