Search Legislation

Scottish National Investment Bank Act 2020

  • Explanatory Notes Table of contents

Please note:

All reference to 'Parts' and 'sections' are from the Scottish National Investment Bank Act 2020. For other versions of these Explanatory Notes, see More Resources.

  1. Introduction

  2. Overview

  3. The Act

    1. Part 1 - Establishment of the Bank

      1. Chapter 1 – Scottish Minister’s Duty to Establish the Bank

      2. Chapter 2 - The Bank’s articles of association on establishment

        1. Section 2 (The Bank’s vision)

        2. Section 3 (The Bank’s objects)

        3. Section 4 (Ethical investment standards)

        4. Section 5 (Balanced scorecard)

        5. Section 6 (General powers)

        6. Section 7 (Borrowing powers)

        7. Section 8 (Ownership)

        8. Section 9 (Directors: appointment)

        9. Section 10 (Directors: tenure)

        10. Section 11 (Remuneration)

        11. Section 12 (Committees)

        12. Section 13 (Gender equality strategy)

        13. Section 14 (Entrenched provisions)

    2. Part 2 – Operational matters

      1. Strategic missions

        1. Section 15 (Setting missions)

        2. Section 16  (Requirement to consult in relation to missions)

        3. Section 17 (Proposals from the Bank about its missions)

      2. Accountability

        1. Section 18 (Reporting on Missions)

        2. Section 19 (Report on investment performance)

        3. Section 20 (Report on gender equality strategy)

        4. Section 21 (Review of performance)

        5. Section 22 (Equal pay review)

      3. Fair Work

        1. Section 23 (Fair work direction)

      4. Scottish Government financing of the Bank

        1. Section 24 (Power to capitalise)

        2. Section 26 (Power to finance)

        3. Section 27 (Requirement to get State approval for financing)

        4. Section 28 (Meaning of State aid rules)

      5. Miscellaneous provisions

        1. Section 29 (Advisory group)

        2. Section 30 (Exercise of power to appoint non-executive directors)

        3. Section 31 (Procedure for modifying entrenched provisions)

    3. Part 3 – Final Provisions

      1. Section 32 (Application of public bodies legislation)

      2. Sections 33, 35 and 36 (Meaning of references to the Bank and subsidiaries, Commencement and Short title)

      3. Section 34 (Ancillary provision)

  4. Parliamentary History

  • Explanatory Notes Table of contents

Back to top

Options/Help

Print Options

Close

Explanatory Notes

Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.

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