Borrowing by trusteesN.I.
This section has no associated Explanatory Memorandum
223. After Article 36 of the 1995 Order insert—
“Restriction on borrowing by trustees
36A. Regulations may prohibit the trustees of a trust scheme, or the fund manager to whom any discretion has been delegated under Article 34, from borrowing money or acting as a guarantor, except in prescribed cases.” .