SCHEDULES
F1F1SCHEDULE 6
Part II
Powers
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 M1Trusts (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 M2Trusts (Scotland) Act 1921 F2and 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 M3Trustee 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 F3and 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 M4National Health Service (Scotland) Act 1972 and any endowments, or accumulated income thereof, otherwise held by a Health Board;
F4ea
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) F5or, as the case may be, paragraph (ea)) on trust for purposes similar to those for which property is held by a Health Board F6or, 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. F7 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.
Sch. 6 repealed (6.5.2004) by Public Appointments and Public Bodies etc. (Scotland) Act 2003 (asp 4), ss. 17, 21(2), Sch. 4 para. 5(17); S.S.I. 2004/198, art. 2(c)