Public limited company model
The Policy Memorandum considers the public limited model “the most appropriate model for the Bank”. It suggests this will allow it to raise capital from a range of sources, provide “additional protections” – e.g. ensuring ownership remains with the Scottish Ministers, and not restrict the potential issue of dividends.iPolicy Memorandum para 47
STUC welcomed the Bank being established as a public limited company “wholly owned by Ministers” as it ensured privatisation would need primary legislation.STUC written submissionWomen’s Enterprise Scotland’s Lynne Cadenhead suggested it was important to learn from what had worked in other countries and that “on balance” the approach was “the right one”.iiiOR, 21 May, Col 18 Mydex CIC argued for the Community Investment Company model, contending that such an approach was “asset and mission locked” and offered future protection against being “driven down a market forces route”.ivOR, 21 May, Col 17
Benny Higgins said the Advisory Group had discussed different models and concluded—
…the best way to serve the Scottish economy in the long run is to have clear and unequivocal ownership by the Scottish Government.vOR, 7 May, Col 14