The Scottish Hospital Trust (Transfer of Property) Regulations 2004

Transfer to, and vesting in Health Boards, of Trust property: supplementary

3.—(1) The Trust may realise for value any of the Trust property, including any heritable property, and allocate that value to a Health Board in lieu of that property as part of the main transfer.

(2) The Trust shall, on or before 12th February 2004, or as soon as practicable thereafter, realise for value any of the Trust property not transferred, or not to be transferred, as part of the main transfer, which is not already in the form of bank and cash balances.

(3) The Trust shall allocate any heritable property, which has not been realised for value in accordance with paragraph (1) and which is to form part of the main transfer in accordance with regulation 2(1)(a), to the Health Board for the area in which the heritable property is located, as part of the share of that Health Board in the capital value of the Trust property.

(4) The Trust may not, without the prior consent of the Scottish Ministers, incur any new liabilities after 12th February 2004.

(5) The Trust shall notify each Health Board in writing–

(a) on or before 12th February 2004–

(i) of the value of the share of that Health Board in the capital value of the Trust property, for the purposes of regulation 2(1)(a);

(ii) how the value of that share has been calculated; and

(iii) of the items of Trust property that will be allocated, and the form in which they will be allocated to that Board as part of the main transfer and the capital value of each, as calculated in accordance with regulation 5; and

(b) on or before 31st March 2004–

(i) of the value of the share of that Health Board in any remaining Trust property for the purposes of regulation 2(2); and

(ii) how the value of that share has been calculated.