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	Statutory Instruments made by the National Assembly for Wales
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" "highest possible credit rating" means, in relation to a money market fund, that it has the highest possible rating - 
(a) in respect of creditworthiness assigned by Standard and Poor's, a division of The McGraw-Hill Companies Ltd[4]; or

(b) in respect of both creditworthiness and volatility assigned by either Moody's Investors Service Ltd[5] or Fitch Ratings Ltd[6];


"money market fund" means a collective investment scheme which - 
(a) in accordance with the Council Directive of 20th December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities as amended [7], is an undertaking for collective investment in transferable securities subject to that Directive;

(b) has been given the highest possible credit rating; and

(c) is either a unit trust scheme authorised under section 243 of the Financial Services and Markets Act 2000[8] or a collective investment scheme recognised under section 264 of that Act;".

    (3) Yn rheoliad 2(1) (buddsoddiadau a gymeradwywyd) - 

(a) yn is-baragraff (b), ar ôl "deposit-taker", ychwanegwch ", the Treasury"; a

(b) ar ôl is-baragraff (b), mewnosodwch yr is-baragraff canlynol - 


" (bb) any investment in a money market fund;";

    (4) Yn rheoliad 3 (amodau ar gyfer cymeradwyo buddsoddiadau), ym mharagraffau (1)(c) a (4)(a), ar ôl "regulation 2" mewnosodwch "(1)".

Diwygio Rheoliadau Awdurdodau Lleol (Cyllid Cyfalaf) 1997
     3.  - (1) Mae Rheoliadau Awdurdodau Lleol (Cyllid Cyfalaf) 1997 [9] yn cael eu diwygio fel a ganlyn.

    (2) Yn rheoliad 62(b) (gwaredu buddsoddiadau), - 

(a) yn lle "2(b) or (c)", rhowch "2(1)(b), (bb) or (c)";

(b) yn is-baragraff (i), yn lle "institution" ym mha le bynnag yr ymddengys, rhowch "deposit-taker";

(c) yn is-baragraff (ii), - 


(i) ar ôl "2", mewnosodwch "(1)"; a

(ii) ar y diwedd, ychwanegwch "; or"; ac



(ch) ar ôl is-baragraff (ii), ychwanegwch - 



" "(iii) where the investment was made with a money market fund, that fund has ceased to be a money market fund within the meaning given to that expression in regulation 1(2) of the 1990 Regulations.".

Llofnodwyd ar ran Cynulliad Cenedlaethol Cymru o dan adran 66(1) o Ddeddf Llywodraeth Cymru 1998[10]


Rhodri Morgan
Prif Weinidog y Cynulliad Cenedlaethol

26 Mawrth 2002

[2] Gweler Gorchymyn Cynulliad Cenedlaethol Cymru (Trosglwyddo Swyddogaethau) 1999 (O.S. 1999/672).back

[3] O.S. 1990/426; offerynnau diwygio perthnasol yw O.S. 1991/501 ac O.S. 2001/3731 (Cy.308).back

[4] Cofrestrwyd yng Nghymru a Lloegr rhif 01916239.back

[5] Cofrestrwyd yng Nghymru a Lloegr rhif 01950192.back

[6] Cofrestrwyd yng Nghymru a Lloegr rhif 01316230.back

[7] 85/611/EEC (OJNL375, 31.12.1985) a ddiwygiwyd gan 88/220/EEC (OJNL100, 19.4.1988) a 95/26/EC (OJNL168, 18.7.1995).back

[8] 2000 p.8.back

[9] O.S. 1997/319 a ddiwygiwyd ond nid yw'r diwygiadau yn berthnasol i'r Rheoliadau hyn.back

[10] 1998 p.38.back

  Prepared 18 April 2002