Section 16 Existing NHS trusts: conversion of initial loan.I1

England and Wales

(1)

This section applies to any NHS trust in existence immediately before commencement.

(2)

On commencement so much of the originating capital debt of the NHS trust as remains outstanding immediately before commencement is to be treated as the originating capital of the NHS trust and accordingly is public dividend capital.

(3)

Any reference in any enactment, instrument or other document to the originating capital debt of the NHS trust is to be construed (except where the context otherwise requires) as a reference to its originating capital.

(4)

The Secretary of State may with the consent of the Treasury determine the amount and time for payment of interest on the NHS trust’s initial loan in respect of the period ending with commencement.

(5)

In this section—

“commencement” means the coming into force of this section,
“initial loan” has the meaning given by section 9(5) of F1the National Health Service and Community Care Act 1990, prior to the repeal of that section by the National Health Service (Consequential Provisions) Act 2006

Annotations

Textual amendments

F1: Words in s. 16(5) substituted (1.3.2007) by National Health Service (Consequential Provisions) Act 2006 (c. 43), ss. 2, 8(2), Sch. 1 para. 195 (with Sch. 3 Pt. 1)

Commencement

I1: S. 16 wholly in force at 1.11.1999; s. 16 not in force at Royal Assent see s. 67(1); s. 16 in force for E. at 1.9.1999 by S.I. 1999/2342, art. 2(1), Sch. 1; s. 16 in force for W. at 1.11.1999 by S.I. 1999/3184, art. 2(1), Sch. 1

Notes on Part I

Modifications

C1

Pt. I (ss. 1-45 except 20(1), 22, 33-38): 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))

Pt. I applied to Isles of Scilly (with modifications) (14.3.2001) by S.I. 2001/448, art. 2