Regulation 4 Amendments to the Principal Regulations

In Regulation 5 for paragraph (2) there shall be substituted—

“(2)

Investments, or rights in respect of investments, may not at any time—

(a)

be purchased or made otherwise than out of cash which a plan manager holds (and is entitled under the provisions of these Regulations to hold) under a plan at that time; or

(b)

be purchased from—

(i)

a plan investor, or

(ii)

the spouse of a plan investor,

so as to become plan investments under a plan to which the plan investor subscribes or has subscribed.”.