Explanatory Notes

Scottish National Investment Bank Act 2020

2020 asp 3

25 February 2020

The Act

Part 1 - Establishment of the Bank

Chapter 2 - The Bank’s articles of association on establishment
Section 3 (The Bank’s objects)

8.Section 3 makes provision, for inclusion in Articles, about the Bank’s main object and ancillary objects (or objectives). The Bank’s main object situates the role of the Bank within the economic development powers devolved to the Scottish Government. The ancillary objects direct the Bank’s investment towards delivering against a broad range of outcomes which include creating and shaping new markets, promoting both environmental and social wellbeing, advancing equality and promoting fair work.