The Pensions Act 1995 (c. 26)

Restriction on employer-related investments5

1

Section 40 of the Pensions Act 1995 (restrictions on employer-related investments) has effect without the amendments made by article 141(3) of the 2001 Order, and instead section 40 is amended in accordance with paragraph (2).

2

After subsection (2) insert—

2A

In the definition of “employer-related investments” in subsection (2) “securities” means—

a

shares,

b

instruments creating or acknowledging indebtedness,

c

instruments giving entitlements to investments,

d

certificates representing securities.

2B

Subsection (2A) must be read with—

a

section 22 of the Financial Services and Markets Act 2000,

b

any relevant order made under that section, and

c

Schedule 2 to that Act.