Regulation 15A DepositsF1

(1)

Regulation 12(2A) shall not prohibit an investment in paragraph (2) of this regulation to the extent that it can be construed as an employer-related loan mentioned in F2regulations 12(4) or 16A(5) of these Regulations.

(2)

This regulation applies to any employer-related investment of resources in an account (including a current, deposit or shared account) with—

(a)

a person who has permission under Part 4 of the FSM Act (permission to carry on regulated activities) to accept deposits;

F3(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . or

(c)

the Bank of England.

Annotations

Textual amendments

F1: Reg. 15A inserted (23.9.2010) by Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009 (S.I. 2009/615), regs. 1(3)(b), 19(4)
F2: Words in reg. 15A(1) substituted (1.10.2022) by The Occupational Pension Schemes (Investment) (Employer-related investments by Master Trusts) (Amendment) Regulations 2022 (S.I. 2022/827), regs. 1(4), 2(4)
F3: Reg. 15A(2)(b) omitted (31.12.2020) by virtue of The Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/192), regs. 1, 29(4); 2020 c. 1, Sch. 5 para. 1(1)