246Borrowing by trusteesE+W+S
This section has no associated Explanatory Notes
After section 36 of the Pensions Act 1995 insert—
“36ARestriction on borrowing by trustees
Regulations may prohibit the trustees of a trust scheme, or the fund manager to whom any discretion has been delegated under section 34, from borrowing money or acting as a guarantor, except in prescribed cases.”
Commencement Information
I1S. 246 in force at 4.12.2005 for specified purposes by S.I. 2005/3331, art. 2(1), Sch. Pt. 1