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Chamber and committees

Delegated Powers and Law Reform Committee

Scottish National Investment Bank Bill: Stage 1

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Introduction

  1. At its meeting on 26 March 2019, the Delegated Powers and Law Reform Committee considered the delegated powers provisions in the Scottish National Investment Bank Bill at Stage 1 ("the Bill").i

  1. The Committee submits this report to the lead Committee for the Bill (the Economy, Energy and Fair Work Committee) under Rule 9.6.2 of Standing Orders.

  1. The Scottish Government has provided the Parliament with a memorandum on the delegated powers provisions in the Bill.i

Overview of the Bill

  1. This Government Bill was introduced by the Cabinet Secretary for Finance, Economy and Fair Work, Derek Mackay MSP, on 27 February 2019.

  1. The purpose of the Bill is to create a new Scottish National Investment Bank. It achieves this by placing a duty on the Scottish Ministers to establish a public company limited by shares, named the Scottish National Investment Bank p.l.c., whose only member is the Scottish Ministers, and whose articles of association are drawn up in accordance with the provisions of the Bill.

  1. The Bank will be a public body. Its policy aim is to give financial assistance to commercial activities for the purpose of promoting or sustaining economic development or employment in Scotland. The Bill gives the Scottish Ministers the power to set “strategic missions” for the Bank. They will do so by sending the Bank details of the socio-economic challenges that the Bank is to seek to address. In response the Bank will prepare a “mission report” explaining how the Bank intends to respond to the strategic missions set for it.

  1. The Bill is comprised of 25 sections, and is divided into 3 Parts, concerning the establishment of the Bank, operational matters, and final provisions. A schedule applies public bodies legislation to the Bank.

Delegated Powers Provisions

  1. The Committee considered each of the delegated powers in the Bill. The Committee determined that it did not need to draw the attention of the Parliament to the delegated powers in the following provisions:

    • Section 23 – Power to make ancillary provision

    • Section 24(2) and (3) – Power to appoint the days on which Bill provisions come into force.

Recommendation

  1. The Committee therefore reports that it is content with the delegated powers provisions contained in the Bill.