PART VI N.I. OCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS

Obligations of trustees of occupational pension schemes N.I.

Borrowing by trustees N.I.

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.” .