Decision ID: 002223

In October 1982 the 1971 Fund Assembly decided to broaden the Fund’s investment policy by allowing the Fund’s assets, in addition to being placed on term deposits with banks enjoying a high reputation and standing in the financial community, to be invested with discount houses, which were members of the London Discount Market Association, by the purchase of bank bills, the maximum investment in any bank or discount house not normally exceeding £2 million and the term of the investments in neither case exceeding one year; Financial Regulations 7.1(b) and (c) were amended accordingly.