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The Local Government Pension Scheme (Management and Investment of Funds) (Amendment) Regulations 2003

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PART I

Column (1)Column (2)
Limits under regulation 11(2)Increased limits under regulation 11(2A)

1.  Any single sub-underwriting contract.

1%5%

2.  All contributions to any single partnership.

2%5%

3.  All contributions to partnerships.

5%15%

4.  All deposits with—

(a)any local authority, or

(b)any body with power to issue a precept or requisition to a local authority, or to the expenses of which a local authority can be required to contribute,

which is an exempt person (within the meaning of the Financial Services and Markets Act 2000(1)) in respect of accepting deposits as a result of an order made under section 38(1) of that Act, and all loans (but see paragraph 12).

10%

5.  All investments in unlisted securities of companies.

10%15%

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

10%

7.  All deposits with any single bank, institution or person (other than the National Savings Bank).

10%

8.  All sub-underwriting contracts.

15%

9.  All investments in units or other shares of the investments subject to the trusts of unit trust schemes managed by any one body (but see paragraph 14).

25%35%

9A.  All investments in open-ended investment companies where the collective investment schemes constituted by the companies are managed by any one body.

25%35%

9B.  All investments in units or other shares of the investments subject to the trusts of unit trust schemes and all investments in open-ended investment companies where the unit trust schemes and the collective investment schemes constituted by those companies are managed by any one body (but see paragraph 14).

25%35%

10.  Any single insurance contract.

25%35%

11.  All securities transferred (or agreed to be transferred) by the authority under stock lending arrangements.

25%

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