The non-profit distributing model is a form of public-private partnership that has been designed to deliver better value for money to the public sector and the taxpayer than previous public-private partnership/private finance initiative deals. This has always been the case.

Scottish Futures Trust is leading work on the creation of a new charity that will form part of the structure of future hub infrastructure projects, seeking advice when required including ongoing engagement with the Office of the Scottish Charity Regulator with which it met on 16 July 2015.

Information on the infrastructure investment projects which Scottish Futures Trust is supporting is available on its website: www.scottishfuturestrust.org.uk/

No changes have been made following financial close. Some limited contractual adjustments were made prior to financial close to address Scottish Government and Scottish Futures Trust’s understanding of the revised guidance in Eurostat’s recently updated Manual of Government Deficit and Debt.

Legal advice was provided by Pinsent Masons to the Scottish Futures Trust and the hub programme public bodies on a confidential basis.

Information relating to the estimated annual unitary payment charges paid by public sector bodies in Scotland to private sector consortiums for services agreed over the length of non-profit distributing, hub and public-private partnership/private finance initiative contracts is available by way of the Scottish Government website: www.gov.scot/Topics/Government/Finance/18232/12308

Soft services, such as cleaning, catering etc, have always been excluded from all non-profit distributing and hub design-build-finance-maintain projects to increase flexibility and learn lessons from the past. There will be no change in any revised structure.

The eight hub design-build-finance-maintain (DBFM) projects that had been due to reach financial close by the end of 2014-15 had not reached financial close by 31 March 2015. For project specific reasons, the Forfar Academy and Anderson High School Shetland have been allowed to progress to financial close. Elgin High School, Baldragon Academy Dundee, Newbattle High School, Kelso High School, NHS Lothian Health Centre Bundle, and Inverclyde Care Home have been affected by a combination of Eurostat and other project specific programme issues. Other hub DBFM projects due to reach financial close in the early part of the current financial year, Our Lady and St Patricks High School and Barrhead High School, have faced project specific issues and are now also affected by the need for further consideration of the implications of the review by the Office of National Statistics of the classification of the Aberdeen Western Peripheral Route. The length and cost of any delay will only be known when contracts are signed.

The Office for National Statistics has reviewed the classification of the Aberdeen Western Peripheral Route and the wider implications of that review are being considered by the Scottish Government and the Scottish Futures Trust.

Shareholders will have the right to invest subordinated debt in the same ratio as their shareholding.