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Health and Social Care Act 2001

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This is the original version (as it was originally enacted).

5Income generation

This section has no associated Explanatory Notes

In section 7 of the Health and Medicines Act 1988 (c. 49) (additional powers for financing Health Service), after subsection (7) there shall be inserted—

(7A)The power specified in paragraph (g) of subsection (2) above includes power for the Secretary of State—

(a)to form, or participate in the forming of, companies,

(b)to invest in companies (whether by acquiring assets, securities or rights or otherwise), and

(c)to provide loans and guarantees and make other kinds of financial provision to or in respect of companies,

where it appears to him that to do so is calculated to facilitate, or to be conducive or incidental to, the exercise of any power conferred by that subsection.

(7B)In subsection (7A) above “companies” means companies within the meaning of the Companies Act 1985 (c. 6); and that subsection is without prejudice to—

(a)the generality of paragraph (g) of subsection (2) above, and

(b)any powers of the Secretary of State exercisable otherwise than by virtue of this section.

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