PART 3ENACTMENTS RELATING TO PENSIONS

Pensions Act 1995 (c. 26)

Restriction on employer-related investments141

1

Section 40 of the Pensions Act 1995 (employer-related investments) is amended as follows.

2

In subsection (2) the definition of “securities” is repealed.

3

After that subsection, insert—

2A

In subsection (2)(a) “securities” does not include government or other public securities.

2B

Paragraph (a) of subsection (2) and subsection (2A) must be read with—

i

section 22 of the Financial Services and Markets Act 2000;

ii

any relevant order under that section; and

iii

Schedule 2 to that Act.