PART 3Regulation of health and adult social care services
CHAPTER 6Financial assistance in special administration cases
Supplementary
144Investment principles and reviews
1
F5NHS England must prepare and publish a statement of the principles that govern its decisions, or decisions made on its behalf, about making investments for the purposes of this Chapter.
2
F5NHS England must—
a
in each financial year, review the statement,
b
if it considers necessary in light of the review, revise the statement, and
c
if it revises the statement, publish the revised statement.
3
As soon as reasonably practicable after the end of each financial year, F5NHS England must undertake and publish a review of the operation during that year of—
a
the procedure for health special administration under Chapter 5,
I3b
the procedure for trust special administration for NHS foundation trusts under Chapter 5A of Part 2 of the National Health Service Act 2006, and
c
such mechanisms as have been established under section 134.
4
The purposes of the review under subsection (3)(c) are—
a
to assess the operation of the mechanisms concerned,
b
to assess the accuracy of the estimates given by F4NHS England in relation to the operation of the mechanisms,
c
to assess what improvements can be made to the process for making estimates in relation to the operation of the mechanisms, and
d
to review the extent of the protection which the mechanisms are required to provide.
5
Where a fund established under section 135 has been in operation for the whole or part of the year concerned, the review published under this section must specify—
a
the income of the fund during that year, and
b
the expenditure from the fund during that year.
I36
F3NHS England must exclude from a review published under this section information which it is satisfied is—
a
commercial information the disclosure of which would, or might, significantly harm the legitimate business interests of an undertaking to which it relates;
b
information relating to the private affairs of an individual the disclosure of which would, or might, significantly harm that person's interests.
145I1Borrowing
1
F6NHS England may—
a
borrow from a deposit-taker such sums as it may from time to time require for exercising its functions under this Chapter;
b
give security for sums that it borrows.
2
But F7NHS England may not borrow if the effect would be—
a
to take the aggregate amount outstanding in respect of the principal of sums borrowed by it over such limit as the Secretary of State may by order specify, or
b
to increase the amount by which the aggregate amount so outstanding exceeds that limit.
3
In this section, “deposit-taker” means—
F2b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
The definition of “deposit-taker” in subsection (3) must be read with—
a
section 22 of the Financial Services and Markets Act 2000,
b
any relevant order under that section, and
c
Schedule 2 to that Act.
146I2Shortfall or excess of available funds, etc.
1
The Secretary of State may provide financial assistance to F8NHS England if the Secretary of State is satisfied that—
a
there are insufficient funds available from a mechanism established under section 134, or
b
the mechanism is otherwise unable to operate effectively.
2
If the Secretary of State is satisfied that the level of funds available from a mechanism established under section 134 exceeds the level that is necessary, the Secretary of State may direct F8NHS England to transfer the excess to the Secretary of State.
3
If the Secretary of State is satisfied that a mechanism established under section 134 has become dormant, or if a mechanism so established is being wound up, the Secretary of State may direct F8NHS England to transfer to the Secretary of State such funds as are available from the mechanism.