Search Legislation

Public Appointments and Public Bodies etc. (Scotland) Act 2003

Health Service Bodies

Section 7 – Investment and borrowing

31.The provisions in section 7 relate to the powers of investment and borrowing by Health Boards and NHS trusts in respect of endowments.

32.The Scottish Hospital Trust was given specific powers of investment. Subsection (1) confers upon Health Boards like powers of investment and borrowing.

33.Subsection (2) requires Health Boards to seek financial advice with regard to such investments.

34.Subsection (3) permits a Health Board to borrow from any endowment which is attributable to it, subject to certain provisos.

35.Subsections (4) and (5)permit a Health Board to make loans to Health Boards and NHS trusts from endowments held by that Health Board but attributable to those other Health Boards or NHS trusts.

36.Subsection (6)permits NHS trusts to borrow from any endowment which it holds.

37.Subsection (7)requires Health Boards and NHS trusts to seek the consent of the Scottish Ministers to any loans or borrowing, under subsections (3) to (6).

38.Subsection (8)allows the Scottish Ministers to make provisions by regulations as to the terms and conditions to apply to any loans or borrowing.

Back to top


Print Options


Explanatory Notes

Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills


More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources