PART III

HEALTH AND SOCIAL CARE– GENERAL

Health and Social Care trusts

Public dividend capital
45
1
Article 14 of the 1991 Order (originating capital debt of, and other financial provisions relating to, HSC trusts) shall be amended in accordance with subsections (2) to (6).
2
In paragraphs (1), (2) and (3), for “originating capital debt” there shall be substituted “originating capital”.
3
For paragraph (4) there shall be substituted—
4
An HSC trust's originating capital shall be public dividend capital.
.
4
Paragraphs (5) and (6) shall cease to have effect.
5
In paragraph (7) for the words from “the terms” to the end there shall be substituted
—
a
the dividend which is to be payable at any time on any public dividend capital issued, or treated as issued, under this Order;
b
the amount of any such public dividend capital which is to be repaid at any time;
c
any other terms on which any public dividend capital is so issued or treated as issued.
.
6
In paragraph (8) the words “, (5), (6)” shall cease to have effect.
7
In Schedule 4 to the 1991 Order—
a
in paragraph 3 (limits on indebtedness), sub-paragraph (2) shall cease to have effect;
b
in paragraph 4 (additional public dividend capital), sub-paragraph (2) shall cease to have effect.
Words in Act substituted (1.4.2009) by virtue of Health and Social Care (Reform) Act (Northern Ireland) 2009 (c. 1), ss. 32, 34(3), Sch. 6 para. 1(1)(d) (with Sch. 6 para. 1(3)); S.R. 2009/114, art. 2
Words in Act substituted (1.4.2009) by virtue of Health and Social Care (Reform) Act (Northern Ireland) 2009 (c. 1), ss. 32, 34(3), Sch. 6 para. 1(1)(c) (with Sch. 6 para. 1(3)); S.R. 2009/114, art. 2
Words in Act substituted (1.4.2009) by virtue of Health and Social Care (Reform) Act (Northern Ireland) 2009 (c. 1), ss. 32, 34(3), Sch. 6 para. 1(1)(a) (with Sch. 6 para. 1(2)(3)); S.R. 2009/114, art. 2