# The Authorised Unit Trust Scheme (Investment and Borrowing Powers) (Amendment) Regulations 1989, Regulation 6: Ability of securities scheme which is not a Government and other public securities fund to invest in Government and other public securities


Regulation 18 of the Principal Regulations shall be renumbered regulation 18(1) and the following shall be substituted for sub-paragraph (b) of that regulation–
“(b) up to 35% in value of the property of an authorised securities scheme may consist of Government and other public securities issued by the same issuer; and
(c) up to 100% in value of the property of an authorised securities scheme may consist of Government and other public securities issued or guaranteed by the same person provided that the conditions described in paragraph (2) are fulfilled.
(2) The conditions described in this paragraph are that–
(a) if it is intended that it should be possible for more than 35% in value of the property of an authorised securities scheme to consist of Government and other public securities issued or guaranteed by the same person, the deed constituting the scheme in question and the most recently published scheme particulars must clearly state that fact and the identity of the issuer or guarantor in question; and
(b) not more than 35% in value of the property of an authorised securities scheme shall consist of Government and other public securities issued or guaranteed by the same person unless–
(i) the property of the scheme includes Government and other public securities issued or guaranteed by that person of at least six different issues;
(ii) not more than 30% in value of the property of the scheme consists of Government and other public securities issued or guaranteed by that person of the same issue; and
(iii) the most recently published scheme particulars clearly state that more than 35% in value of the scheme consist of Government and other public securities issued by the same issuer and identify the issuer or guarantor.”.

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Source: https://www.legislation.gov.uk/uksi/1989/1437/regulation/6 (the official version)
Page: https://openlegislation.uk/authorised-unit-trust-scheme-investment-and-borrowing-powers-amendment-regulations-1989/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.