Scottish National Investment Bank Act 2020

15 Setting 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.