Article 259 Limits on investments and other definitionsI1

Schedule 1 to the Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Regulations 1998 (limits on investments) is amended as follows.

For paragraph 4 of Part I of that Schedule (limits on investments) substitute—

“4

All deposits with—

(a)

any local authority, or

(b)

any body with power to issue a precept or requisition to a local authority, or to the expenses of which a local authority can be required to contribute,

which is an exempt person (within the meaning of the Financial Services and Markets Act 2000) in respect of accepting deposits as a result of an order made under section 38(1) of that Act, and all loans (but see paragraph 12).”.

In paragraph 15—