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Health Act 1999
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84(1)Schedule 3 (financial provisions relating to NHS trusts) is amended as follows.
(2)In paragraph 6 (surplus funds)—
(a)for “amount standing in the reserves of an NHS trust” there is substituted “sum held by an NHS trust otherwise than as trustee”,
(b)for “that amount” there is substituted “that sum”.
(3)For paragraph 7 (investment) there is substituted—
“7An NHS trust shall have power to invest money held by it in any investments, including investments which do not produce income, specified in directions under section 17 of the principal Act; but nothing in this paragraph applies in relation to money held by an NHS trust as trustee”.
(4)After that paragraph there is inserted—
“8Any 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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