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Regulation 2 Transfer to, and vesting in Health Boards, of Trust property

Original text. Later amendments are not shown.

(1)

The property referred to in article 2(3) of the Public Appointments and Public Bodies etc. (Scotland) Act 2003 (Commencement No. 4) Order 2003 as being transferred to, and vested in, Health Boards in the main transfer of Trust property on 12th February 2004 comprises–

(a)

property (except any endowment or other property (and accumulated income thereof) held by the Trust by virtue of paragraph 4(e) or (ea) of Schedule 6 (the Hospital Trust) to the 1978 Act) equal to the share of each Health Board as set out in regulation 4; but under deduction of the expenses of administration and liabilities of the Trust as at 31st March 2004 as estimated by the Trust;

(b)

any endowments or accumulated income thereof held by the Trust by virtue of paragraph 4(e) of the said Schedule 6 and which are to be transferred back to the Health Board on behalf of which the Trust accepted the endowment or accumulated income thereof for investment and management; and

(c)

any property, endowments or accumulated income held by the Trust by virtue of paragraph 4(ea) of the said Schedule 6 and which are to be transferred back to the Health Board for the area in which the NHS trust, on behalf of which the Trust accepted the property, endowments or accumulated income for investment and management, is located.

(2)

Any balance remaining on 31st March 2004 shall be distributed, after payment by the Trust of the expenses of administration and liabilities of the Trust as at that date, to the Health Boards in accordance with regulation 4.

(3)

Should the Trust acquire further property, or any reversionary interest be enlarged, after 6th February 2004 and before the dissolution of the Trust, that property shall be distributed as follows:

(a)

if a condition is attached to any donation or bequest, in accordance with that condition; or

(b)

if the acquisition takes the form of

(i)

heritable property, to the Health Board in whose area the heritable property is situated; or

(ii)

moveable property, to the Health Board in whose area the person making the donation or bequest to the Trust was ordinarily resident or last ordinarily resident; or

(c)

in any other case, in accordance with the Schedule.