Part II The National Health Service: Scotland

Finance

53 Public dividend capital.

1

Section 12E of the 1978 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 7B to that Act—

a

in paragraph 3 (limits on indebtedness), sub-paragraph (2) is omitted,

b

in paragraph 5 (additional public dividend capital), sub-paragraph (2) is omitted.