
1 
These Regulations may be cited as the Occupational Pension Schemes (Pensions Compensation Board Limit on Borrowing) Regulations 1996 and shall come into force on 1st August 1996.
2 
The aggregate amount outstanding in respect of the principal of any money borrowed by the Pensions Compensation Board under section 78(5) of the Pensions Act 1995 must not exceed £15 million.
Signed by authority of the Secretary of State for Social Security.
Oliver Heald
Parliamentary Under-Secretary of State,
Department of Social Security
25th July 1996