(1)The Scottish Ministers may pay to a subsidiary of Scottish Water grants of such amounts as they may determine.
(2)A subsidiary of Scottish Water may borrow—
(a)from the Scottish Ministers (and they may lend to it) sums of such amounts as they may determine,
(b)money from any other person, whether—
(i)in sterling or otherwise,
(ii)the person is in the United Kingdom or elsewhere.
(3)A grant or loan in pursuance of subsection (1) or (as the case may be) (2)(a) may be made subject to such conditions as the Scottish Ministers think fit.
(4)A loan made in pursuance of subsection (2)(a) is to be repaid to the Scottish Ministers at such times and by such methods (and interest on the loan is to be paid to them at such times and at such rates) as they may from time to time direct.
(5)Borrowing may be made in pursuance of subsection (2) only with the consent of Scottish Water (except where it is the lender).
(6)This section does not apply where the subsidiary is an undertaking established under section 13(1) of the Water Services etc. (Scotland) Act 2005.
(7)In this section and section 42B(1), “subsidiary” is as defined in section 1159 of the Companies Act 2006.]
Textual Amendments
F1Ss. 42A, 42B inserted (21.12.2013) by Water Resources (Scotland) Act 2013 (asp 5), ss. 27(1), 56(1)(2); S.S.I. 2013/342, art. 2(a)