About the Bill
A Bill for an Act of the Scottish Parliament to require the establishment of the Scottish National Investment Bank and to make further provision in connection with that body.
Current Status of the Bill
This Scottish Government Bill was introduced by the Cabinet Secretary for Finance, Economy and Fair Work, Derek Mackay MSP, on 27 February 2019.
The Scottish Parliament Information Centre (SPICe) published a briefing on the Scottish National Investment Bank Bill
The Economy, Jobs and Fair Work Committee was designated the lead Committee for Stage 1 scrutiny.
The Committee launched a call for views on 8 March 2019 and the deadline for responses was 3 May 2019.
Read the Call for Views
The Committee considered the Bill at Stage 2.
Minute for Meeting
The Cabinet Secretary for Finance, Economy and Fair Work wrote to the Committee on 25 April to update it on the bank and the timing and appointment process for its Chair.
The Committee wrote to the Cabinet Secretary regarding the appointment of the Chair. The Cabinet Secretary responded on 16 May 2019.
The Scottish Government provided a note on the Articles of Association.
On 2 May 2019 the Committee wrote to the Cabinet Secretary regarding the process for the appointment of a Chair-designate. The Cabinet Secretary replied on 16 May 2019.
Further to the letter of 16 May 2019, the Cabinet Secretary provided a draft of the Shareholder Framework Document.
On 4 June 2019 the Cabinet Secretary wrote to the Ethical Standards Commissioner regarding appointments to the Board of the Scottish National Investment Bank, she replied on 13 June 2019. The Cabinet Secretary then replied to the Commissioner on 27 June 2019.
The Cabinet Secretary for Finance, Economy and Fair Work wrote to the Committee on 14 June following up on the session on 14 June 2019.
On 5 November 2019 the Committee wrote to the Cabinet Secretary seeking some further clarification in relation to the contents of the Financial Memorandum, Derek Mackay responded on 8 November 2019.
On 18 November 2019 the Cabinet Secretary wrote to the Committee to inform it that Willie Watt had been appointed the first Chair of the Scottish National Investment Bank.
On 18 December 2019 the Committee replied to the Cabinet Secretary, Derek Mackay responded on 8 January 2020.
On 10 January 2020 the Cabinet Secretary wrote to the Committee to provide a further update.
On 30 May 2020 the Scottish Government wrote to the Committee with an update on the progress of establishing the Scottish National Investment Bank.
Work by other Committees
Finance and Constitution Committee
The Finance and Constitution Committee sought written evidence on the estimated financial implications of the Bill as set out in its accompanying Financial Memorandum and received 3 responses.
The Committee Reported on the Bill at Stage 1 on 4 July 2019.
The Cabinet Secretary for Finance, Economy and Fair Work responded on 26 August 2019.