Scottish National Investment Bank Bill [AS INTRODUCED] CONTENTS Section PART 1 ESTABLISHMENT OF THE BANK CHAPTER 1 COTTISH MINISTERS’ DUTY TO ESTABLISH THE BANK S 1 Duty to establish the Bank HAPTER 2 C HE BANK’S ARTICLES OF ASSOCIATION ON ESTABLISHMENT T 2 The Bank’s objects 3 General powers 4 Borrowing powers 5 Ownership 6 Directors: appointment 7 Directors: tenure 8 Remuneration 9 Committees 10 Entrenched provisions ART 2 P PERATIONAL MATTERS O Strategic missions Setting missions 11 12 Reporting on missions Accountability 13 Report on investment performance 14 Review of performance Scottish Government financing of the Bank 15 Power to capitalise 16 Requirement to get State aid approval before significant capitalisation 17 Power to finance 18 Requirement to get State aid approval for financing SP Bill 43 Session 5 (2019) ii Scottish National Investment Bank Bill 19 Meaning of State aid rules Modification of entrenched articles of association 20 Procedure for modifying entrenched provisions ART 3 P INAL PROVISIONS F 21 Application of public bodies legislation 22 Meaning of references to the Bank and subsidiaries 23 Ancillary provision 24 Commencement 25 Short title __________ Application of public bodies legislation Schedule— Scottish National Investment Bank Bill 1 Part 1—Establishment of the Bank Chapter 1—Scottish Ministers’ duty to establish the Bank THE FOLLOWING ACCOMPANYING DOCUMENTS ARE ALSO PUBLISHED: Explanatory Notes (SP Bill 43-EN), a Financial Memorandum (SP Bill 43-FM), a Policy Memorandum (SP Bill 43-PM) and statements on legislative competence (SP Bill 43-LC).