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Health and Social Care Act 2012

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Changes over time for: Section 135

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This version of this provision is prospective. Help about Status

Changes to legislation:

Health and Social Care Act 2012, Section 135 is up to date with all changes known to be in force on or before 15 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Prospective

135Power to establish fundE+W
This section has no associated Explanatory Notes

(1)[F1NHS England] may, for the purposes of section 134, establish and maintain a fund.

(2)In order to raise money for investment in a fund it establishes under this section, [F2NHS England] may impose requirements on providers or [F3integrated care boards].

(3)[F4NHS England] must appoint at least two managers for a fund it establishes under this section.

(4)A manager of a fund may be an individual, a firm or a body corporate.

(5)[F5NHS England] must not appoint an individual as manager of a fund unless it is satisfied that the individual has the appropriate knowledge and experience for managing investments.

(6)[F5NHS England] must not appoint a firm or body corporate as manager of a fund unless it is satisfied that arrangements are in place to secure that any individual who will exercise functions of the firm or body corporate as manager will, at the time of doing so, have the appropriate knowledge and experience for managing investments.

(7)[F5NHS England] must not appoint an individual, firm or body corporate as manager of a fund unless the individual, firm or body is an authorised or exempt person within the meaning of the Financial Services and Markets Act 2000.

(8)[F5NHS England] must secure the prudent management of any fund it establishes under this section.

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