C1Part I The National Health Service
NHS trusts
I115 Public dividend capital.
1
Section 9 of the 1990 Act (originating capital debt of, and other financial provisions relating to, NHS trusts) is amended as provided in subsections (2) to (5).
2
In subsections (1), (2) and (3), for “originating capital debt” there is substituted “
originating capital
”
.
3
For subsection (4) there is substituted—
4
An NHS trust’s originating capital shall be public dividend capital.
4
Subsections (5) and (6) are omitted.
5
In subsection (7), for the words from “the terms” to the end there is substituted—
a
the dividend which is to be payable at any time on any public dividend capital issued, or treated as issued, under this Act,
b
the amount of any such public dividend capital which is to be repaid at any time,
c
any other terms on which any public dividend capital is so issued, or treated as issued
6
In Schedule 3 to that Act—
a
in paragraph 3 (limits on indebtedness), sub-paragraph (3) is omitted, and
b
in paragraph 5 (additional public dividend capital), sub-paragraph (2) is omitted.
Pt. I (ss. 1-45 except 20(1), 22, 33-38): transfer of functions (1.7.1999) by S.I. 1999/672, art. 2, Sch. 1 (as inserted (30.6.1999) by 1999 c. 8, ss. 66(4)(5)(c), 67(4))
Pt. I applied to Isles of Scilly (with modifications) (14.3.2001) by S.I. 2001/448, art. 2