The Local Government Pension Scheme(Management and Investment of Funds) Regulations 1998 No. 1831

SCHEDULE 1 LIMITS ON INVESTMENTS

PART II EXCEPTIONS TO LIMITS IN PART I

12.  The restriction in paragraph 4 does not apply to a Government loan.

13.  The restriction in paragraph 6 does not apply if—

(a) the investment is made by an investment manager appointed under regulation 6, and

(b) the single holding is in units or other shares of the investments subject to the trusts of any one unit trust scheme.

14.  The restrictions in paragraphs 6 and 9 do not apply—

(a) to any investment falling within paragraph 1 of Part I (National Savings) or paragraph 1 or 2 of Part II (interest bearing securities, loans etc.) of Schedule 1 to the Trustee Investments Act 1961, or

(b) to a deposit with a relevant institution.