PART 2Operational matters
Strategic missions
I117Proposals from the Bank about its missions
1
Subsection (2) applies when the Scottish Ministers receive from the Bank a valid proposal that they should change the Bank's strategic missions.
2
Within 28 days of receiving the proposal, the Scottish Ministers must write to the chair of the Bank's board stating—
a
whether the Scottish Ministers will consult under section 16 about making the proposed change, and
b
the reasons for that decision.
3
A proposal is valid for the purpose of subsection (1) if it is—
a
in writing, and
b
explains—
i
why the proposal is being made, and
ii
in the case of a proposal to set a new mission or modify one, how that proposed change relates to the Bank's main object and ancillary objects as set out in its articles of association.