Modifications etc. (not altering text)
C1Sch. 4: transfer of functions (1.7.1999) by S.I. 1999/672, art. 2, Sch. 1 (as inserted (30.6.1999) by 1999 c. 8, ss. 66(4)(5)(c), 67(4))
63(1)Schedule 7B (financial provisions relating to NHS trusts) is amended as follows.U.K.
(2)In paragraph 6 (surplus funds)—
(a)for “amount standing in the reserves of an NHS trust” there is substituted “ sum held by an NHS trust other than a sum held on trust under section 12G ”,
(b)for “that amount” there is substituted “ that sum ”.
(3)For paragraph 7 of that Schedule (investment) there is substituted—
“7 An NHS trust shall have power to invest money held by it in any investments, including investments which do not produce income, specified in directions made by the Secretary of State with the consent of the Treasury; but nothing in this paragraph applies in relation to money held on trust under section 12G.”
(4)After that paragraph there is inserted—
“8Any direction with respect to—
(a)the power conferred on an NHS trust by paragraph 1; or
(b)the maximum amount which an NHS trust may invest in any investment or class of investment,
may be given only with the consent of the Treasury.”
Commencement Information
I1Sch. 4 para. 63 wholly in force for S. at 1.10.1999, see s. 67(1) and S.S.I 1999/90, art. 2(b)