# The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001, Paragraph 15.1


The Trustees shall have the following powers in respect of the whole or a part of any amounts held by them which are not immediately paid or applied for the purposes of the Scheme namely:
(a) power to place or retain the same in any current account (with or without requiring any interest) in any bank or building society of good repute;
(b) power to deposit the same with any bank or building society of good repute at such rate of interest and on such terms as the Trustees shall think fit;
(c) power to invest in or apply the same in the acquisition or upon the security of such stocks funds bonds shares debentures debenture stocks securities unit trust units share warrants and options on shares traded options financial futures or other investments (including works of art or other property whether real or personal and whether or not of a wasting nature) of whatsoever nature and wheresoever situate whether or not income producing and whether or not involving liability and whether or not authorised by law for the investment of trust funds, and in such loans (other than loans to any of the Employers or to any Member or other person entitled to benefit from the Scheme in respect of a Member) whether secured or unsecured as the Trustees in their absolute discretion shall decide;
(d) power to invest or apply the same in effecting with any United Kingdom office or branch of any Authorised Insurance Company any deferred or immediate annuity assurance sinking fund deposit administration managed fund or other policies or contracts;
(e) power to underwrite any investments or securities whether on issue or sale and whether jointly with other persons or not;
(f) power to enter into any transaction involving financial futures, forwards, forward foreign exchange contracts, traded options, contracts for difference, over-the-counter options, swaps or other derivative instruments of whatsoever nature and wheresoever situate whether or not these impose contingent liabilities on the Scheme and whether or not authorised by law for the investment of trust funds as the Trustees in their absolute discretion shall decide;
(g) power to enter into any transaction affecting all or any part of the Fund with any company or corporation or with the trustees of any other trust notwithstanding that the Trustees (or any of them) may be or be included among the directors of such company or the members of the governing body of such corporation or the trustees of such other trust or be the directors of any body corporate being trustees of such other trust, provided always that this power shall not be exercised to permit a transaction with any of the Employers or any Subsidiary Company or Associated Company except upon the recommendation of a competent consultant appointed by the Trustees who shall be independent of the Employers and of any Subsidiary Company or Associated Company and of any trustees referred to above, except that the recommendation of such consultant may be overruled by a unanimous decision of the Trustees, which requirement of unanimity shall not prejudice any other requirement of unanimity for a decision of the Trustees;
(h) power to lease mortgage exchange sell or otherwise deal with any land or interest in land forming part of the Fund in like manner as if the Trustees were absolutely entitled thereto beneficially;
(i) power to enter into any scheme either alone or with others and either directly or indirectly for the development of land or buildings whether or not owned by the Trustees.

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Source: https://www.legislation.gov.uk/uksi/2001/853/schedule/1/paragraph/15.1 (the official version)
Page: https://openlegislation.uk/transport-act-2000-civil-aviation-authority-pension-scheme-order-2001/schedule-1/paragraph-15.1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.