Section 135 Power to establish fund

F1NHS England may, for the purposes of section 134, establish and maintain a fund.

In order to raise money for investment in a fund it establishes under this section, F2NHS England may impose requirements on providers or F3integrated care boards.

F4NHS England must appoint at least two managers for a fund it establishes under this section.

A manager of a fund may be an individual, a firm or a body corporate.

F5NHS England must not appoint an individual as manager of a fund unless it is satisfied that the individual has the appropriate knowledge and experience for managing investments.

NHS England must not appoint a firm or body corporate as manager of a fund unless it is satisfied that arrangements are in place to secure that any individual who will exercise functions of the firm or body corporate as manager will, at the time of doing so, have the appropriate knowledge and experience for managing investments.

NHS England must not appoint an individual, firm or body corporate as manager of a fund unless the individual, firm or body is an authorised or exempt person within the meaning of the Financial Services and Markets Act 2000.

NHS England must secure the prudent management of any fund it establishes under this section.