Search Legislation

The National Health Service (Distribution of Endowment Income Scheme) (Scotland) Regulations 2004

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Distribution of income from endowments

3.—(1) A host shall, after paying the necessary expenses of management and the taxes affecting any endowment or endowments held by them on behalf of a Health Board or NHS trust, distribute to the Health Board or NHS trust on whose behalf the endowment or endowments are held, the income from the endowment or endowments in each year, calculated in accordance with sub-paragraph (2) as follows–

(a)income from 1st April to 30th September, within one month of 30th September;

(b)income from 1st October to 28/29th February, within one month of 28/29th February; and

(c)income from 1st March to 31st March, within one month of completion of the annual audit.

(2) The income from an endowment or endowments to be distributed to a Health Board or NHS trust on whose behalf the endowment or endowments are held, shall be the proportion of the total income in percentage terms which the total capital value of the endowment or endowments held by the host on behalf of that Health Board or NHS trust bears to the total capital value of all endowments held by the host, calculated to 5 decimal places.

(3) For the purposes of sub-paragraph (2), the capital value of any endowment shall be the market value of that endowment as at the date of the most recent transfer by which any endowment was transferred to the host calculated as follows:–

(a)investments quoted on a stock exchange – in accordance with the stated valuation method for investments of each host;

(b)short term loans, bank and cash balances – at amounts outstanding or at credit; or

(c)other property and rights of, or held by, a host at market valuation by a valuer appointed by the host.

(4) In the event that there is a dispute between the host and the Health Board or NHS trust on the income to be distributed, the Scottish Ministers shall, applying the criteria in sub-paragraphs (1) to (3) above, determine the income to be distributed by the host under sub-paragraph (1).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

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
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources