# The Local Government Pension Scheme Regulations 1995, Regulation L7: Use of fund money by administering authority


An administering authority shall pay interest to the fund on the total from day to day of any fund money used by them and for the time being not repaid, at a rate no lower than the lowest rate at which that amount could have been borrowed by them at arms' length at 7 days' notice (otherwise than by way of overdraft from a bank).

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Source: https://www.legislation.gov.uk/uksi/1995/1019/regulation/L7 (the official version)
Page: https://openlegislation.uk/local-government-pension-scheme-regulations-1995/regulation-L7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.