National Health Service (Scotland) Act 1978

4 The Trust shall have the following powers—

(a) the like powers in relation to their funds as trustees have in relation to their trust estate under section 4(1) of the M1 Trusts (Scotland) Act 1921;

(b) power to purchase and lease land and to invest in any security in which trustees are authorised to invest under or in pursuance of the M2 Trusts (Scotland) Act 1921 [F1 and the Trustee Investments Act 1961] and—

(i) to retain any investment which they from time to time receive,

(ii) to make a narrower-range investment falling within Part II of Schedule 1 to the M3 Trustee Investments Act 1961 without first obtaining advice as required by section 6 of that Act,

(iii) to invest in the units of a unit trust scheme or in participation certificates or in any form of participation under any trust or scheme having the effect of enabling persons to participate in the profits and income arising from the acquisition, holding, management or disposal of securities or of land;

(c) power to make loans to Health Boards [F2 and NHS trusts] against their share in the capital of the Trust;

(d) power to pay all the expenses of the constitution and administration of the Trust from their funds;

(e) power to accept from any Health Board for investment and management on behalf of the Board any endowments or accumulated income thereof transferred to the Board under Part VI of the M4 National Health Service (Scotland) Act 1972 and any endowments, or accumulated income thereof, otherwise held by a Health Board;

[F3 (ea) power to accept from any NHS trust for investment and management on behalf of the trust any property held on behalf of the trust by trustees appointed by virtue of section 12G(2), and any endowments or accumulated income otherwise held by the trust;]

(f) power to accept, hold, administer and dispose of any property (other than a relevant endowment or such an endowment as is referred to in sub-paragraph (e) [F4 or, as the case may be, paragraph (ea)]) on trust for purposes similar to those for which property is held by a Health Board [F5 or, as the case may be, by an NHS Trust];

(g) power to give advice to a Health Board relating to the investment or management of any such endowment or income as is referred to in sub-paragraph (e) and which is not transferred to the Trust under paragraph 16 of Schedule 1, and to recover from the Board concerned any expenses reasonably incurred by them in giving such advice. [F6 It is hereby declared, for the avoidance of doubt, that the Trust has at all times had the power referred to in sub-paragraph (b) above to invest in any security in which trustees are authorised to invest under or in pursuance of the Trustee Investments Act 1961.]

Textual Amendments

F1 Words inserted by Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c. 73, SIF 39:1), s. 54(1)

F2 Words inserted by National Health Service and Community Care Act 1990 (c. 19, SIF 113:2), s. 66(1), Sch. 9 para. 19(24)(a)

F3 Sch. 6 para. 4(ea) inserted by National Health Service and Community Care Act 1990 (c. 19, SIF 113:2), s. 66(1), Sch. 9 para. 19(24)(b)

F4 Words expressed to be inserted by National Health Service and Community Care Act 1990 (c. 19, SIF 113:2), s. 66(1), Sch. 9 para. 19(24)(c)(i)

F5 Words inserted by National Health Service and Community Care Act 1990 (c. 19, SIF 113:2), s. 66(1), Sch. 9 para. 19(24)(c)(ii)

F6 Words inserted by Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c. 73, SIF 39:1), s. 54(2)

Marginal Citations

M1 1921 c. 58.

M2 1921 c. 58.

M3 1961 c. 62.

M4 1972 c. 58.