Article 3 Restriction on modifying the Bank’s articles of association

Section 22(3)(a) of the Companies Act 2006^f1 (entrenched provisions of the articles) cannot be relied on to amend a provision of the articles of association of the Bank to which paragraph (2) applies.

This paragraph applies to any provision of the Bank’s articles which may be amended or repealed only in accordance with section 31 of the Scottish National Investment Bank Act 2020^f2 (procedure for modifying entrenched provisions).