Words in Sch. 3 para. 3(1)(2) substituted (retrospectively) by 1999 c. 8, s. 13(9)(10); S.I. 1999/2540, art. 2(1)(a), Sch. 1; S.I. 1999/3184, art. 2(1), Sch. 1

Sch. 3 para. 5A inserted (1.8.2001 for E. and 1.7.2002 for W.) by 2001 c. 15, s. 3(1), (with ss. 64(9), 65(4)); S.I. 2001/2804, art. 2(1)(a); S.I. 2002/1475, art. 2(1), Sch. Pt. 1

Sch. 3 para. 8 inserted (1.9.1999 for E. and 1.4.2000 for W.) by 1999 c. 8, s. 65(1), Sch. 4 paras. 74, 84(4); S.I. 1999/2342, art. 2(1), Sch. 1; S.I. 2000/1026, art. 2(1), Sch.

Sch. 3 para. 1(3): Treasury approval requirement continued (W.) (1.7.1999) by S.I. 1999/672, arts. 1(2), 2, Sch. 1

Sch. 3 para. 5: Treasury consent requirement continued (W.) (1.7.1999) by S.I. 1999/672, arts. 1(2), 2, Sch. 1

Sch. 3 para. 6 modified (W.) (1.7.1999) by S.I. 1999/672, arts. 1(2), 2, Sch. 1

Sch. 3 para. 7: Treasury consent requirement continued (W.) (1.7.1999) by S.I. 1999/672, arts. 1(2), 2, Sch. 1

1968 c. 13.

http://www.legislation.gov.uk/ukpga/1990/19/schedule/3/1991-03-19National Health Service and Community Care Act 1990An Act to make further provision about health authorities and other bodies constituted in accordance with the National Health Service Act 1977; to provide for the establishment of National Health Service trusts; to make further provision about the financing of the practices of medical practitioners; to amend Part VII of the Local Government (Scotland) Act 1973 and Part III of the Local Government Finance Act 1982; to amend the National Health Service Act 1977 and the National Health Service (Scotland) Act 1978; to amend Part VIII of the Mental Health (Scotland) Act 1984; to make further provision concerning the provision of accommodation and other welfare services by local authorities and the powers of the Secretary of State as respects the social services functions of such authorities; to make provision for and in connection with the establishment of a Clinical Standards Advisory Group; to repeal the Health Services Act 1976; and for connected purposes.1990-06-29texttext/xmlenStatute Law Database2022-09-291991-03-19 SCHEDULESSCHEDULE 3

Section 9.

Financial Provisions Relating to NHS Trusts Borrowing1(1)

Subject to the provisions of this paragraph and to any limit imposed under the following provisions of this Schedule, for the purpose of its functions an NHS trust may borrow (both temporarily, by way of overdraft, and longer term) from the Secretary of State or from any other person.

(2)

An NHS trust may not mortgage or charge any of its assets or in any other way use any of its assets as security for a loan.

(3)

Except with the consent of the Secretary of State, an NHS trust may not borrow in any currency other than sterling; and the Secretary of State shall not give his consent to any such borrowing except with the approval of the Treasury.

(4)

Interest on any sums borrowed from the Secretary of State by an NHS trust shall be paid at such variable or fixed rates and at such times as the Treasury may determine.

(5)

A rate of interest under sub-paragraph (4) above shall be determined as if section 5 of the National Loans Act 1968 had effect in respect of it and subsections (5) to (5B) of that section shall apply accordingly.

(6)

Subject to sub-paragraphs (4) and (5) above, the terms on which any sums are borrowed from the Secretary of State by an NHS trust shall be such as he may determine; and, in the event of the early repayment of any sums so borrowed, such terms may require the payment of a premium or allow a discount.

Guarantees of borrowing2(1)

The Secretary of State may guarantee, in such manner and on such conditions as, with the approval of the Treasury, he considers appropriate, the repayments of the principal of and the payment of interest on any sums which an NHS trust borrows from a person other than the Secretary of State.

(2)

Immediately after a guarantee is given under this paragraph, the Secretary of State shall lay a statement of the guarantee before each House of Parliament.

(3)

Where any sum is issued for fulfilling a guarantee so given, the Secretary of State shall lay before each House of Parliament a statement relating to that sum as soon as possible after the end of each financial year beginning with that in which the sum is issued and ending with that in which all liability in respect of the principal of the sum and in respect of interest on it is finally discharged.

(4)

If any sums are issued in fulfilment of a guarantee given under this paragraph, the NHS trust concerned shall make to the Secretary of State, at such times and in such manner as the Secretary of State may from time to time direct,—

(a)

payments of such amounts as the Secretary of State with the consent of the Treasury so directs in or towards repayment of the sums so issued; and

(b)

payments of interest, at such rates as the Secretary of State with the consent of the Treasury so directs, on what is outstanding for the time being in respect of sums so issued.

Limits on indebtedness3(1)

The aggregate of all sums borrowed by NHS trusts which are required to provide services at or from, hospitals or other establishments or facilities which are situated in England shall not exceed £5,000 million or such other sum not exceeding £10,000 million as may be specified by order made by the Secretary of State with the consent of the Treasury.

(2)

The aggregate of all sums borrowed by NHS trusts which are required to provide services at or from, hospitals or other establishments or facilities which are situated in Wales shall not exceed £300 million or such other sum not exceeding £600 million as may be specified by order made by the Secretary of State with the consent of the Treasury.

(3)

The references in sub-paragraphs (1) and (2) above to sums borrowed do not include a reference to NHS trusts’ initial loans.

4

Any power to make an order under paragraph 3 above shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.

Additional public dividend capital5(1)

If the Secretary of State, with the consent of the Treasury, considers it appropriate to do so, he may, instead of making a loan to an NHS trust under paragraph 1 above, pay an amount to the trust as public dividend capital.

(2)

Section 9 of this Act shall apply to public dividend capital paid to an NHS trust under this paragraph as it applies to public dividend capital forming part of the trust’s originating capital debt.

Supplementary payments5A(1)

If the Secretary of State considers it appropriate to do so, he may make a payment to the trust.

(2)

The payment may be subject to such conditions as he thinks fit to impose, including conditions as to repayment.

Surplus funds6

If it appears to the Secretary of State that any amount standing in the reserves of an NHS trust is surplus to its foreseeable requirements, the trust shall, if the Secretary of State with the approval of the Treasury and after consultation with the trust so directs, pay that amount into the Consolidated Fund.

Investment7

An NHS trust may not invest any money held by it except in securities of the Government of the United Kingdom or in such other manner as the Secretary of State may with the consent of the Treasury approve.

8

Any direction under section 17 of the principal Act with respect to—

(a)

the power conferred on an NHS trust by paragraph 1 above; or

(b)

the maximum amount which an NHS trust may invest in any investments or class of investments,

may be given only with the consent of the Treasury.

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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1358935" marker="F1">
<p>
Words in
<ref eId="c06182" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/3/1/2">Sch. 3 para. 3(1)(2)</ref>
substituted (
<i>retrospectively</i>
) by
<ref eId="c06183" href="http://www.legislation.gov.uk/id/ukpga/1999/8">1999 c. 8</ref>
,
<ref eId="c06184" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1999/8/section/13/9/10">s. 13(9)(10)</ref>
;
<ref eId="c06185" href="http://www.legislation.gov.uk/id/uksi/1999/2540">S.I. 1999/2540</ref>
,
<ref eId="c06186" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/2540/article/2/1/a">art. 2(1)(a)</ref>
,
<ref eId="c06187" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/2540/schedule/1">Sch. 1</ref>
;
<ref eId="c06188" href="http://www.legislation.gov.uk/id/uksi/1999/3184">S.I. 1999/3184</ref>
,
<ref eId="c06189" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/3184/article/2/1">art. 2(1)</ref>
,
<ref eId="c06190" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/3184/schedule/1">Sch. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1358949" marker="F2">
<p>
<ref eId="c06299" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/5A">Sch. 3 para. 5A</ref>
inserted (1.8.2001 for E. and 1.7.2002 for W.) by
<ref eId="c06300" href="http://www.legislation.gov.uk/id/ukpga/2001/15">2001 c. 15</ref>
,
<ref eId="c06301" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/2001/15/section/3/1">s. 3(1)</ref>
, (with ss. 64(9), 65(4));
<ref eId="c06302" href="http://www.legislation.gov.uk/id/uksi/2001/2804">S.I. 2001/2804</ref>
,
<ref eId="c06303" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2001/2804/article/2/1/a">art. 2(1)(a)</ref>
;
<ref eId="c06304" href="http://www.legislation.gov.uk/id/uksi/2002/1475">S.I. 2002/1475</ref>
,
<ref eId="c06305" class="subref" href="http://www.legislation.gov.uk/id/uksi/2002/1475/article/2/1">art. 2(1)</ref>
,
<ref eId="c06306" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2002/1475/schedule/part/1">Sch. Pt. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1358956" marker="F3">
<p>
<ref eId="c06384" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/8">Sch. 3 para. 8</ref>
inserted (1.9.1999 for E. and 1.4.2000 for W.) by
<ref eId="c06385" href="http://www.legislation.gov.uk/id/ukpga/1999/8">1999 c. 8</ref>
,
<ref eId="c06386" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1999/8/section/65/1">s. 65(1)</ref>
,
<ref eId="c06387" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1999/8/schedule/4/paragraph/74">Sch. 4 paras. 74</ref>
,
<ref eId="c06388" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1999/8/schedule/4/paragraph/84/4">84(4)</ref>
;
<ref eId="c06389" href="http://www.legislation.gov.uk/id/uksi/1999/2342">S.I. 1999/2342</ref>
,
<ref eId="c06390" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/2342/article/2/1">art. 2(1)</ref>
,
<ref eId="c06391" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/2342/schedule/1">Sch. 1</ref>
;
<ref eId="c06392" href="http://www.legislation.gov.uk/id/uksi/2000/1026">S.I. 2000/1026</ref>
,
<ref eId="c06393" class="subref" href="http://www.legislation.gov.uk/id/uksi/2000/1026/article/2/1">art. 2(1)</ref>
,
<ref eId="c06394" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2000/1026/schedule">Sch.</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="C" class="commentary C" eId="c1358921" marker="C1">
<p>
<ref eId="c06079" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/1/3">Sch. 3 para. 1(3)</ref>
: Treasury approval requirement continued (W.) (1.7.1999) by
<ref eId="c06080" href="http://www.legislation.gov.uk/id/uksi/1999/672">S.I. 1999/672</ref>
,
<ref eId="c06081" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/1/2">arts. 1(2)</ref>
,
<ref eId="c06082" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/2">2</ref>
,
<ref eId="c06083" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/672/schedule/1">Sch. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="C" class="commentary C" eId="c1358944" marker="C2">
<p>
<ref eId="c06255" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/5">Sch. 3 para. 5</ref>
: Treasury consent requirement continued (W.) (1.7.1999) by
<ref eId="c06256" href="http://www.legislation.gov.uk/id/uksi/1999/672">S.I. 1999/672</ref>
,
<ref eId="c06257" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/1/2">arts. 1(2)</ref>
,
<ref eId="c06258" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/2">2</ref>
,
<ref eId="c06259" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/672/schedule/1">Sch. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="C" class="commentary C" eId="c1358950" marker="C3">
<p>
<ref eId="c06323" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/6">Sch. 3 para. 6</ref>
modified (W.) (1.7.1999) by
<ref eId="c06324" href="http://www.legislation.gov.uk/id/uksi/1999/672">S.I. 1999/672</ref>
,
<ref eId="c06325" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/1/2">arts. 1(2)</ref>
,
<ref eId="c06326" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/2">2</ref>
,
<ref eId="c06327" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/672/schedule/1">Sch. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="C" class="commentary C" eId="c1358954" marker="C4">
<p>
<ref eId="c06360" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1990/19/schedule/3/paragraph/7">Sch. 3 para. 7</ref>
: Treasury consent requirement continued (W.) (1.7.1999) by
<ref eId="c06361" href="http://www.legislation.gov.uk/id/uksi/1999/672">S.I. 1999/672</ref>
,
<ref eId="c06362" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/1/2">arts. 1(2)</ref>
,
<ref eId="c06363" class="subref" href="http://www.legislation.gov.uk/id/uksi/1999/672/article/2">2</ref>
,
<ref eId="c06364" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1999/672/schedule/1">Sch. 1</ref>
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c1358922" marker="M1">
<p>
<ref eId="c06084" href="http://www.legislation.gov.uk/id/ukpga/1968/13">1968 c. 13</ref>
.
</p>
</note>
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<dc:identifier>http://www.legislation.gov.uk/ukpga/1990/19/schedule/3/1991-03-19</dc:identifier>
<dc:title>National Health Service and Community Care Act 1990</dc:title>
<dc:description>An Act to make further provision about health authorities and other bodies constituted in accordance with the National Health Service Act 1977; to provide for the establishment of National Health Service trusts; to make further provision about the financing of the practices of medical practitioners; to amend Part VII of the Local Government (Scotland) Act 1973 and Part III of the Local Government Finance Act 1982; to amend the National Health Service Act 1977 and the National Health Service (Scotland) Act 1978; to amend Part VIII of the Mental Health (Scotland) Act 1984; to make further provision concerning the provision of accommodation and other welfare services by local authorities and the powers of the Secretary of State as respects the social services functions of such authorities; to make provision for and in connection with the establishment of a Clinical Standards Advisory Group; to repeal the Health Services Act 1976; and for connected purposes.</dc:description>
<dc:date>1990-06-29</dc:date>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2022-09-29</dc:modified>
<dct:valid>1991-03-19</dct:valid>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="1990"/>
<ukm:Number Value="19"/>
<ukm:EnactmentDate Date="1990-06-29"/>
</ukm:PrimaryMetadata>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/1990/19/pdfs/ukpga_19900019_en.pdf" Date="2015-02-15"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="308"/>
<ukm:BodyParagraphs Value="99"/>
<ukm:ScheduleParagraphs Value="209"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<body>
<hcontainer name="schedules" eId="schedules">
<heading> SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-3" uk:target="true">
<num>
SCHEDULE 3
<authorialNote class="referenceNote">
<p>Section 9.</p>
</authorialNote>
</num>
<heading>
Financial Provisions Relating to
<abbr class="acronym" title="National Health Service">NHS</abbr>
Trusts
</heading>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-borrowing">
<heading> Borrowing</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e110">
<heading/>
<paragraph eId="schedule-3-paragraph-1" class="schProv1">
<num>1</num>
<subparagraph eId="schedule-3-paragraph-1-1">
<num>(1)</num>
<content>
<p>
Subject to the provisions of this paragraph and to any limit imposed under the following provisions of this Schedule, for the purpose of its functions an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust may borrow (both temporarily, by way of overdraft, and longer term) from the Secretary of State or from any other person.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-1-2">
<num>(2)</num>
<content>
<p>
An
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust may not mortgage or charge any of its assets or in any other way use any of its assets as security for a loan.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-1-3">
<num>(3)</num>
<content>
<p>
Except with the consent of the Secretary of State, an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust may not borrow in any currency other than sterling; and the Secretary of State shall not give his consent to any such borrowing except with the approval of the Treasury.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-1-4">
<num>(4)</num>
<content>
<p>
Interest on any sums borrowed from the Secretary of State by an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust shall be paid at such variable or fixed rates and at such times as the Treasury may determine.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-1-5">
<num>(5)</num>
<content>
<p>
A rate of interest under sub-paragraph (4) above shall be determined as if section 5 of the
<noteRef href="#c1358922" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
National Loans Act 1968 had effect in respect of it and subsections (5) to (5B) of that section shall apply accordingly.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-1-6">
<num>(6)</num>
<content>
<p>
Subject to sub-paragraphs (4) and (5) above, the terms on which any sums are borrowed from the Secretary of State by an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust shall be such as he may determine; and, in the event of the early repayment of any sums so borrowed, such terms may require the payment of a premium or allow a discount.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-guarantees-of-borrowing">
<heading> Guarantees of borrowing</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e173">
<heading/>
<paragraph eId="schedule-3-paragraph-2" class="schProv1">
<num>2</num>
<subparagraph eId="schedule-3-paragraph-2-1">
<num>(1)</num>
<content>
<p>
The Secretary of State may guarantee, in such manner and on such conditions as, with the approval of the Treasury, he considers appropriate, the repayments of the principal of and the payment of interest on any sums which an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust borrows from a person other than the Secretary of State.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-2-2">
<num>(2)</num>
<content>
<p>Immediately after a guarantee is given under this paragraph, the Secretary of State shall lay a statement of the guarantee before each House of Parliament.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-2-3">
<num>(3)</num>
<content>
<p>Where any sum is issued for fulfilling a guarantee so given, the Secretary of State shall lay before each House of Parliament a statement relating to that sum as soon as possible after the end of each financial year beginning with that in which the sum is issued and ending with that in which all liability in respect of the principal of the sum and in respect of interest on it is finally discharged.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-2-4">
<num>(4)</num>
<intro>
<p>
If any sums are issued in fulfilment of a guarantee given under this paragraph, the
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust concerned shall make to the Secretary of State, at such times and in such manner as the Secretary of State may from time to time direct,—
</p>
</intro>
<level class="para1" eId="schedule-3-paragraph-2-4-a">
<num>(a)</num>
<content>
<p>payments of such amounts as the Secretary of State with the consent of the Treasury so directs in or towards repayment of the sums so issued; and</p>
</content>
</level>
<level class="para1" eId="schedule-3-paragraph-2-4-b">
<num>(b)</num>
<content>
<p>payments of interest, at such rates as the Secretary of State with the consent of the Treasury so directs, on what is outstanding for the time being in respect of sums so issued.</p>
</content>
</level>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-limits-on-indebtedness">
<heading> Limits on indebtedness</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e224">
<heading/>
<paragraph eId="schedule-3-paragraph-3" class="schProv1">
<num>3</num>
<subparagraph eId="schedule-3-paragraph-3-1">
<num>(1)</num>
<content>
<p>
The aggregate of all sums borrowed by
<abbr class="acronym" title="National Health Service">NHS</abbr>
trusts
<ins class="first last" ukl:ChangeId="d30p65921" ukl:CommentaryRef="c1358935">
<noteRef uk:name="commentary" href="#c1358935" class="commentary"/>
which are required to provide services at or from
</ins>
, hospitals or other establishments or facilities which are situated in England shall not exceed £5,000 million or such other sum not exceeding £10,000 million as may be specified by order made by the Secretary of State with the consent of the Treasury.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-3-2">
<num>(2)</num>
<content>
<p>
The aggregate of all sums borrowed by
<abbr class="acronym" title="National Health Service">NHS</abbr>
trusts
<ins class="first last" ukl:ChangeId="d30p65931" ukl:CommentaryRef="c1358935">
<noteRef uk:name="commentary" href="#c1358935" class="commentary"/>
which are required to provide services at or from
</ins>
, hospitals or other establishments or facilities which are situated in Wales shall not exceed £300 million or such other sum not exceeding £600 million as may be specified by order made by the Secretary of State with the consent of the Treasury.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-3-3">
<num>(3)</num>
<content>
<p>
The references in sub-paragraphs (1) and (2) above to sums borrowed do not include a reference to
<abbr class="acronym" title="National Health Service">NHS</abbr>
trusts’ initial loans.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="subheading" class="schGroup7" eId="d25e263">
<heading/>
<paragraph eId="schedule-3-paragraph-4" class="schProv1">
<num>4</num>
<content>
<p>Any power to make an order under paragraph 3 above shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.</p>
</content>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-additional-public-dividend-capital">
<heading> Additional public dividend capital</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e274">
<heading/>
<paragraph eId="schedule-3-paragraph-5" class="schProv1">
<num>5</num>
<subparagraph eId="schedule-3-paragraph-5-1">
<num>(1)</num>
<content>
<p>
If the Secretary of State, with the consent of the Treasury, considers it appropriate to do so, he may, instead of making a loan to an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust under paragraph 1 above, pay an amount to the trust as public dividend capital.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-5-2">
<num>(2)</num>
<content>
<p>
Section 9 of this Act shall apply to public dividend capital paid to an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust under this paragraph as it applies to public dividend capital forming part of the trust’s originating capital debt.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="subheading" class="schGroup7" eId="d25e299">
<heading>
<i>
<ins class="first" ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">
<noteRef uk:name="commentary" href="#c1358949" class="commentary"/>
Supplementary payments
</ins>
</i>
</heading>
<paragraph eId="schedule-3-paragraph-5A" class="schProv1">
<num>
<ins ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">5A</ins>
</num>
<subparagraph eId="schedule-3-paragraph-5A-1">
<num>
<ins ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">(1)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">If the Secretary of State considers it appropriate to do so, he may make a payment to the trust.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-3-paragraph-5A-2">
<num>
<ins ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">(2)</ins>
</num>
<content>
<p>
<ins class="last" ukl:ChangeId="d30p66164" ukl:CommentaryRef="c1358949">The payment may be subject to such conditions as he thinks fit to impose, including conditions as to repayment.</ins>
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-surplus-funds">
<heading> Surplus funds</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e328">
<heading/>
<paragraph eId="schedule-3-paragraph-6" class="schProv1">
<num>6</num>
<content>
<p>
If it appears to the Secretary of State that any amount standing in the reserves of an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust is surplus to its foreseeable requirements, the trust shall, if the Secretary of State with the approval of the Treasury and after consultation with the trust so directs, pay that amount into the Consolidated Fund.
</p>
</content>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-investment">
<heading> Investment</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e343">
<heading/>
<paragraph eId="schedule-3-paragraph-7" class="schProv1">
<num>7</num>
<content>
<p>
An
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust may not invest any money held by it except in securities of the Government of the United Kingdom or in such other manner as the Secretary of State may with the consent of the Treasury approve.
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="subheading" class="schGroup7" eId="d25e355">
<heading/>
<paragraph eId="schedule-3-paragraph-8" class="schProv1">
<num>
<ins class="first" ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">
<noteRef uk:name="commentary" href="#c1358956" class="commentary"/>
8
</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956"> Any direction under section 17 of the principal Act with respect to—</ins>
</p>
</intro>
<level class="para1" eId="schedule-3-paragraph-8-a">
<num>
<ins ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">(a)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">
the power conferred on an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust by paragraph 1 above; or
</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-3-paragraph-8-b">
<num>
<ins ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">(b)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">
the maximum amount which an
<abbr class="acronym" title="National Health Service">NHS</abbr>
trust may invest in any investments or class of investments,
</ins>
</p>
</content>
</level>
<wrapUp>
<p>
<ins class="last" ukl:ChangeId="d30p66328" ukl:CommentaryRef="c1358956">may be given only with the consent of the Treasury.</ins>
</p>
</wrapUp>
</paragraph>
</hcontainer>
</hcontainer>
</hcontainer>
</hcontainer>
</body>
</act>
</akomaNtoso>