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<p>90B(3) of the Scotland Act 1998 stipulated that assets held in joint venture structures,
rather than by The Crown Estate alone, were not included in the transfer to Scottish
Ministers.</p><p> </p><p>The Crown Estate held a 50% interest in the Gibraltar English
Limited Partnership, with the remainder held by the Hercules Unit Trust, advised by
British Land.</p><p> </p><p>The Crown Estate operates independently from Government
under the Crown Estate Management Act 1961 and therefore HM Treasury has had no discussions
on the sale of Fort Kinnaird with private companies.</p><p> </p><p>Revenue from the
sale of The Crown Estate’s interest in Fort Kinnaird will be passed to the UK Consolidated
Fund, for the benefit of the UK as a whole.</p>
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