PART 2Operational matters

Strategic missions

15Setting missions

1

The Scottish Ministers are to set strategic missions for the Bank.

2

The Scottish Ministers set the Bank strategic missions by sending it a document—

a

describing the socio-economic or environmental challenges that the Bank is to seek to address, and

b

explaining how, in the Ministers’ opinion, addressing those challenges relates to the Bank’s main object and ancillary objects as set out in its articles of association.

3

The latest document sent to the Bank under this section supersedes the previous one and so, by sending the Bank a new document under this section, the Scottish Ministers can—

a

set a new strategic mission for the Bank,

b

modify a strategic mission, or

c

bring a strategic mission to an end.

4

After sending the Bank a document under this section, the Scottish Ministers must—

a

lay before the Scottish Parliament—

i

a copy of the document, and

ii

a statement setting out how the terms of the document sent to the Bank were affected by the responses to the public consultation carried out in accordance with section 16, and

b

make a copy of both the document and the statement publicly available.