Paragraph 63 I1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 4 para. 62 repealed by National Health Service Reform (Scotland) Act 2004 sch. 2
Sch. 4 para. 63 repealed by National Health Service Reform (Scotland) Act 2004 sch. 2
Sch. 4 para. 44 repealed by National Health Service Reform (Scotland) Act 2004 sch. 2
Sch. 4 para. 45 repealed by National Health Service Reform (Scotland) Act 2004 sch. 2
Sch. 4 para. 33 repealed by Health Act 2006 Sch. 9

(1)

Schedule 7B (financial provisions relating to NHS trusts) is amended as follows.

(2)

In paragraph 6 (surplus funds)—

(a)

for “amount standing in the reserves of an NHS trust” there is substituted “ sum held by an NHS trust other than a sum held on trust under section 12G ”,

(b)

for “that amount” there is substituted “ that sum ”.

(3)

For paragraph 7 of that Schedule (investment) there is substituted—

“7
An NHS trust shall have power to invest money held by it in any investments, including investments which do not produce income, specified in directions made by the Secretary of State with the consent of the Treasury; but nothing in this paragraph applies in relation to money held on trust under section 12G.”

(4)

After that paragraph there is inserted—

“8
Any direction with respect to—
(a)
the power conferred on an NHS trust by paragraph 1; or
(b)
the maximum amount which an NHS trust may invest in any investment or class of investment,
may be given only with the consent of the Treasury.”

Annotations

Commencement

I1: Sch. 4 para. 63 wholly in force for S. at 1.10.1999, see s. 67(1) and S.S.I 1999/90, art. 2(b)

Notes on Schedule 4

Modifications

C1: Sch. 4: transfer of functions (1.7.1999) by S.I. 1999/672, art. 2, Sch. 1 (as inserted (30.6.1999) by 1999 c. 8, ss. 66(4)(5)(c), 67(4))