Article 141 Restriction on employer-related investmentsI1

Section 40 of the Pensions Act 1995 (employer-related investments) is amended as follows.

In subsection (2) the definition of “securities” is repealed.

After that subsection, insert—

“(2A)

In subsection (2)(a) “securities” does not include government or other public securities.

(2B)

Paragraph (a) of subsection (2) and subsection (2A) must be read with—

(i)

section 22 of the Financial Services and Markets Act 2000;

(ii)

any relevant order under that section; and

(iii)

Schedule 2 to that Act.”.