Income Tax (Earnings and Pensions) Act 2003

Power of trustees to raise funds to subscribe for rights issueU.K.

77(1)The trustees may dispose of some of the rights arising under a rights issue in order to be able to obtain sufficient funds to exercise other such rights.U.K.

(2)The power conferred by sub-paragraph (1) is subject to paragraph 72 (duty to act in accordance with participant’s directions).