OpenLegislation

Paragraph 8

Original text. Later amendments are not shown.

(1)

The assets allocated to the 1994 Pensioners “A” Section shall include—

(a)

index-linked gilts whose value is no less than 12% of the allocation amount in respect of that section;

(b)

bonds whose value is no less than 20% of the allocation amount in respect of that section.

(2)

In this paragraph—

  • “bonds” means any investment, within the meaning of the Financial Services Act 1986, falling within paragraph 2 or 3 of Schedule 1 to that Act other than an index-linked gilt; and

  • “index-linked gilts” means loan stock, bonds and other instruments creating or acknowledging indebtedness issued by Her Majesty’s Government in the United Kingdom, the Government of Northern Ireland or the Government of the Isle of Man which under their terms of issue bear a rate of interest calculated by reference to fluctuations in an index.