SP Bill 43A Session 5 (2019) 2 Scottish National Investment Bank Bill Part 1—Establishment of the Bank Chapter 2—The Bank’s articles of association on establishment (2) The articles of association must state that the Bank has the following ancillary objects— (a) investing in inclusive and sustainable economic growth, (aa) investing to promote social wellbeing, (ab) investing to— 5 (i) promote environmental wellbeing, and (ii) in particular, support the transitions required to meet the net-zero emissions target (as defined in section A1 of the Climate Change (Scotland) Act 2009) and circular economy initiatives under section 35(13) of that Act, (ac) promoting the just transition principles (as defined in section 35C of the Climate 10 Change (Scotland) Act 2009), (b) promoting and developing the activities of enterprises, where lack of financial investment is holding back economically viable commercial activity, (c) promoting and developing the activities of small and medium-sized enterprises, (d) creating and shaping markets through the provision of patient capital, 15 (e) contributing to the achievement of the Scottish Government’s economic, social and environmental policy objectives, (f) promoting the advancement of equality and non-discrimination. 2A Balanced scorecard (1) The articles of association must provide that the Bank must prepare and update a 20 document (to be known as a “balanced scorecard”) to assist its preparation of reports under this Act. (2) The articles of association must provide that, in preparing and updating a document under subsection (1), the Bank is to have regard to— (a) the economic impact of the performance of its investments over time, 25 (b) the social impact of the performance of its investments over time, (c) the environmental impact of the performance of its investments over time, (d) any other impact (financial or non-financial) of the performance of its investments over time as the articles may provide. 3 General powers 30 (1) The articles of association must provide that the Bank may do anything for the purpose of its objects and specifically mention— (a) giving financial assistance— (i) on any terms and conditions, and (ii) by any description of investment, lending or guarantee, and 35 (b) forming and acting through subsidiaries.