Scottish National Investment Bank Act 2020

6 General powers

(1) The articles of association must provide that the Bank may do anything for the purpose of its objects and specifically mention—

(a) giving financial assistance—

(i) on any terms and conditions, and

(ii) by any description of investment, lending or guarantee, and

(b) forming and acting through subsidiaries.

(2) The articles of association must also mention the following as examples of the form which financial assistance given by the Bank may take—

(a) investment by the Bank (alone or with others) through the acquisition of loan or share capital in any company,

(b) investment by the Bank (alone or with others) through the acquisition of any—

(i) undertaking, or

(ii) assets,

(c) a loan (secured or unsecured, and with or without interest),

(d) insurance or a guarantee to meet any contingency (including default on payment of a loan or any other failure to fulfil a contractual obligation).

(3) For the avoidance of doubt, the articles of association may provide that the Bank may give financial assistance to a third sector body (as defined in section 37 of the Community Justice (Scotland) Act 2016).