PART 2The funded scheme
I112Administration of scheme
1
The Board must continue to administer the funded scheme.
2
The things which the Board may do for the purpose of exercising that function include—
a
entering into agreements for the receipt and payment of actuarial equivalents of contributions or pensions;
b
borrowing money for the purposes of pensions or lump sum payments in respect of deceased clerks;
c
securing money borrowed under paragraph (b) in whatever manner and on whatever terms and conditions the Board thinks fit.