Section 47 Borrowing, surplus funds and investment

Northern Ireland

(1)

Schedule 4 to the 1991 Order shall be amended as follows.

(2)

In paragraph 1(1) (borrowing powers of F1HSC trusts) after “Subject to” there shall be inserted “any direction given by the Department under paragraph 6 of Schedule 3, to”.

(3)

In paragraph 1 for sub-paragraphs (3) to (6) there shall be substituted—

“(3)
It shall be for the Department, with the consent of the Department of Finance and Personnel, to determine the terms of any loan made by it to an F2HSC trust (including terms as to the payment of interest, if any).” .

(4)

In paragraph 5 (surplus funds)—

(a)

for “amount standing in the reserves of an HSS trust” there shall be substituted “sum held by an HSC trust otherwise than as trustee”;

(b)

for “that amount” there shall be substituted “that sum”.

(5)

For paragraph 6 (investment) there shall be substituted—

“
6
An HSC trust shall have power to invest money held by it in any investments, including investments which do not produce income, specified in directions under paragraph 6 of Schedule 3, but nothing in this paragraph applies in relation to money held by an HSC trust as trustee.”.

Annotations

Textual amendments

F1: 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
F2: Words in Act substituted (1.4.2009) by 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

Notes on Part III

Textual amendments

F1: 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

Notes on Health and Social Care trusts

Textual amendments

F1: 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