Scottish National Investment Bank Act 2020

1. Introduction

2. Overview

3. The Act

   1. Part 1 - Establishment of the Bank

      1. Chapter 1 – Scottish Minister’s Duty to Establish the Bank

      2. Chapter 2 - The Bank’s articles of association on establishment

         1. Section 2 (The Bank’s vision)

         2. Section 3 (The Bank’s objects)

         3. Section 4 (Ethical investment standards)

         4. Section 5 (Balanced scorecard)

         5. Section 6 (General powers)

         6. Section 7 (Borrowing powers)

         7. Section 8 (Ownership)

         8. Section 9 (Directors: appointment)

         9. Section 10 (Directors: tenure)

         10. Section 11 (Remuneration)

         11. Section 12 (Committees)

         12. Section 13 (Gender equality strategy)

         13. Section 14 (Entrenched provisions)

   2. Part 2 – Operational matters

      1. Strategic missions

         1. Section 15 (Setting missions)

         2. Section 16  (Requirement to consult in relation to missions)

         3. Section 17 (Proposals from the Bank about its missions)

      2. Accountability

         1. Section 18 (Reporting on Missions)

         2. Section 19 (Report on investment performance)

         3. Section 20 (Report on gender equality strategy)

         4. Section 21 (Review of performance)

         5. Section 22 (Equal pay review)

      3. Fair Work

         1. Section 23 (Fair work direction)

      4. Scottish Government financing of the Bank

         1. Section 24 (Power to capitalise)

         2. Section 26 (Power to finance)

         3. Section 27 (Requirement to get State approval for financing)

         4. Section 28 (Meaning of State aid rules)

      5. Miscellaneous provisions

         1. Section 29 (Advisory group)

         2. Section 30 (Exercise of power to appoint non-executive directors)

         3. Section 31 (Procedure for modifying entrenched provisions)

   3. Part 3 – Final Provisions

      1. Section 32 (Application of public bodies legislation)

      2. Sections 33, 35 and 36 (Meaning of references to the Bank and subsidiaries, Commencement and Short title)

      3. Section 34 (Ancillary provision)

   4. The Schedule

      1. Ethical Standards in Public Life etc. (Scotland) Act 2000

      2. Freedom of Information (Scotland) Act 2002

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

      4. Public Services Reform (Scotland) Act 2010

      5. Gender Representation on Public Boards (Scotland) Act 2018

4. Parliamentary History