§ Mr. Betts
To ask the Secretary of State for the Environment (1) whether he has received any advice from the Bank of England on the practice of share lending by local authority superannuation funds;
(2) if he will amend the superannuation regulations relating to the pension funds of local authorities in order to clarify the vires of share lending.
§ Mr. Robin Squire
Share lending is among the issues relating to investments under the local government superannuation scheme which are the subject of regular discussions between my Department, the local authority associations and other interested parties, including the Bank of England.