Introductory text

GOVERNMENT TRADING FUNDS

Approved by the House ofCommons

Made 1st April 1991

Coming into force 1st April 1991

Whereas:

(1)

It appears to the Secretary of State that the operations of theBuying Agency referred to in article 3 of this Order are suitable to befinanced by means of a trading fund, and that the financing of thoseoperations by means of a trading fund would be in the interests of theimproved effectiveness of the management of those operations;

(2)

The Secretary of State has, in accordance with section 2(1) of theGovernment Trading Funds Act 1973 determined:—

(a)

with Treasury concurrence that the assets and liabilities setout in Schedule 2 are properly attributable to those operations and aresuitable to be appropriated to the fund to be established by thefollowing Order, and

(b)

in accordance with Treasury directions the values and amounts soset out.

The Secretary of State, in exercise of the powers conferred on himby sections 1(1), 1(4), 2(1), 2A(1), and 2B(6) of the Government TradingFunds Act 1973^f1 and of all other powers enabling him in that behalf,with the concurrence of the Treasury, hereby makes the following Order,a draft of which has been laid before the House of Commons and has beenapproved by a resolution of that House in accordance with section 6(2)of the said Act:—

Annotations

Footnotes

f1: 1973 c. 63. Sections 1 and 2 were substituted, andsections 2A and 2B inserted, by section 1 of the Government Trading Act1990 (c. 30). The 1973 Act as amended is set out in Schedule 1 to the1990 Act.