Labour MSP Neil Findlay explains the bill is silent on terms and conditions relating to pay and pensions for staff, which he argues should at least be aligned with that offered the public sector employees.

Mr Mackay says the board of the bank will be held accountable by ministers and he opposes Mr Wightman's amendment.

On Mr Findlay's amendment, he expresses concern that putting this into the bill would cut across the responsibilities of the bank.

Image source, bbc

We now move to Group 4 and amendments relating to the directors and staff of the bank.

Green MSP Andy Wightman speaks to his amendment calling for at least two non-executive directors are to be appointed by Scottish local authorities.

Mr Wightman says he would have preferred for councils to be members of the bank as well as Scottish ministers, who are the only shareholders as it stands.

Local authorities should play a far bigger part in economic development, argues the Green MSP.

This Scottish National Investment Bank Bill describes the relevant powers of the Bank in broad terms but leaves a lot of the detail to the Articles of Association, external(that is to say the constitution of the Bank as a PLC).

The Bill does not confer any powers in itself, rather it sets out what the Bank's Articles of Association, external will have to say about its powers.

The Bill is very much enabling legislation.

What the Bill does do is place a duty on Scottish ministers to establish the Scottish National Investment Bank, as a public limited company, and gives the necessary powers to Scottish ministers to capitalise the Bank.

Scottish ministers will also be given the power to set the strategic direction of the Bank by the setting of missions.

Read more here., external

MSPs move to Group 3 which is minor and technical amendments.

To follow the debate and voting on amendments you'll need:

• Bill as amended at Stage 2, external
• Marshalled List of Amendments at Stage 3 , external
• Groupings of Amendments at Stage 3, external

Tory MSP Dean Lockhart expresses concern the amendments would prevent the bank from investing in companies which aspire to paying the living wage or moving away from zero hours contract.

He argues investment from the bank may actually help accelerate such efforts.

He backs the Scottish government's amendment.

Labour MSP Jackie Baillie wants the bill to include inclusive growth and allow the provision of financial assistance to a third sector body like a cooperative.

Her amendment one would achieve just that, she explains.

Mr Findlay says the cabinet secretary made no effort to come engage with him on the amendments - leading to some shouts from the SNP benches.

He explains his amendments relate to tax avoidance and evasion, insisting the bank must not lend to companies involved in such practices.

The bank should prioritise companies that pay the living wage and it should not lend to companies who use poor workplace practice, he adds.

The Labour MSP urges the government to "take action to support its rhetoric" on fair work.

Image source, bbc

Labour MSP Rhoda Grant speaks to her amendments 34 and 36, arguing a publicly owned investment bank must be held to the highest ethical standards.

Ms Grant says her amendments allow the bank to take control of its ethical standards but also provides for scrutiny.

They also mean the bank must explain why ethical standards have not been met, she adds.

Moving to the group on investment practices, Derek Mackay explains his amendment seeks to ensure the bank is an ethical investor.

The government has already started consulting on investment standards to be put in place, he adds.

He suggests his amendment is stronger than that proposed by Labour MSP Rhoda Grant.

On the amendments from Neil Findlay in this group, he says despite his offer to work to improve these amendments Mr Findlay has simply brought back the same amendments as were defeated at Stage 2.

He suggests some of these amendments are "impractical", while others are too "blunt".

Image source, bbc

Legislation to set up a Scottish national investment bank was published last February at Holyrood.

The Scottish government wants to have the bank up and running by 2020, with £2bn committed for investment in Scottish businesses over 10 years.

The bill now before MSPs will grant the necessary powers to set up the bank as a public limited company.

Its main role will be to make longer-term investments in Scottish firms, over a period of 10 to 15 years.

Read more here.

Ms Baillie's collective bargaining amendment, moved by Mike Rumbles, is rejected with 31 MSPs backing it and with 85 against.

The Labour MSP sees her fair work amendment agreed to as well as her other amendment from the group.

Image source, Scottish Parliament

In a relatively consensual start the minister, Maurice Golden and Claudia Beamish see their amendments unanimously passed.

Ms Baillie does indeed not move the contentious amendment on collective bargaining, but Lib Dem MSP Mike Rumbles moves it instead.

That leads to our first division and thus a five minute suspension.

Labour MSP Neil Finlday says the Scottish government has the power over collective bargaining and the living wage for the bank.

Mr Findlay accuses the cabinet secretary of timidity for not including these in the bill.

Mr Mackay says he will take legal advice from his legal advisers not from Neil Findlay.

The finance secretary wonders if Mr Findlay is more interested in posturing rather than delivering effective legal changes.

I'm sure by the end of today we will deliver a world leading ethical investment bank, he adds.

Labour MSP Jackie Baillie says collective bargaining contributes to creating a fairer economy.

She suggests if the government was truly committed to promoting collective bargaining, it should have backed her amendment and she is not convinced it is reserved.

However, she says she will take up the minister's invite to work with him and the STUC to ensure the bank promotes collective bargaining and not press the amendment.

Tory MSP Maurice Golden says his amendment relates to the requirement of the SNIB to prioritise a circular economy.

Mr Golden pledges to support Claudia Beamish's amendment, which adds to the banks ancillary objects relating to the promotion of biodiversity.

The minister has already said he will support both amendments.

Image source, bbc

Finance Secretary Derek Mackay gets us underway talking about his amendment from the first grouping on vision and objects.

Mr Mackay tells the chamber he will support a number of amendments from opposition MSPs in this group.

However the first amendment from Jackie Baillie relating to labour relations does not garner his support, as he warns this crosses into reserved areas.

The minister's amendment changes the phrase "low carbon" to "net-zero emissions" in the bank's vision statement.

Image source, Getty Images

MSPs will now debate the Scottish National Investment Bank Bill, external for the final time.

The bank is designed to make longer-term investments in Scottish businesses, with £2bn committed by the government for 10 years.

It was first announced by First Minister Nicola Sturgeon in her 2017 programme for government speech.

The economy committee backed the bill in July, but did call for MSPs to have a formal role in setting its long term focus.

To follow the debate and voting on amendments you'll need:

• Bill as amended at Stage 2, external
• Marshalled List of Amendments at Stage 3 , external
• Groupings of Amendments at Stage 3, external

Lib Dem MSP Mike Rumbles says all health boards should be providing a Veterans First Point service and asks for a timescale on this.

The government is currently assessing services, the minister replies, adding he and Mental Health Minister Clare Haughey will be meeting later this week to discuss actions going forward.