Paragraph 7
United Kingdom
The Board may invest any funds held by them which appear to them to be surplus to their requirements for the time being—
in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act); or
in any investment approved for the purpose by the Treasury.
Subject to sub-paragraph (1) above, the Board shall have power to do anything incidental or conducive to the proper performance of their functions under this Act.
Without prejudice to the generality of sub-paragraph (2) above, the measures open to the Board under any provision of this Act which authorises or requires the Board to take any measures appearing to them to be appropriate for any purpose include in particular—
the making of payments to any person, on such terms (including terms requiring repayment, in whole or in part) and on such conditions as the Board think fit;
the giving of guarantees or indemnities to or in favour of any person; and
the making of any other agreement or arrangement with or for the benefit of any person.
Annotations
Textual amendments
- F1
Sch. 1 para. 7(1) substituted (1.2.2001) by 2000 c. 29, s. 40(1), Sch. 2 Pt. II para. 38 (with s. 35); S.I. 2001/49, art. 2
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(a)
Act continued for certain purposes (subject to modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9, 11, Sch. 1 Pt. I; S.I. 2001/3538, art. 1(2)
Notes on Schedule 1
Modifications
- C1
Sch. 1 (except paras. 5, 6): functions made exercisable by, or by employees of, such person as may be authorised in that behalf by the Treasury (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 63(d)