Explanatory Notes

Scottish National Investment Bank Act 2020

2020 asp 3

25 February 2020

The Act

Part 2 – Operational matters

Miscellaneous provisions

Section 31 (Procedure for modifying entrenched provisions)

38.Section 31 sets out the procedure for modifying entrenched Articles. It provides that those entrenched Articles of Association mentioned in Chapter 2 of Part 1 (the Bank’s Articles of Association on establishment) may only be made by a special resolution of the Bank’s members (the Scottish Ministers) and only if that special resolution has been laid before and approved by resolution of the Scottish Parliament.