Introductory text

Order laid before the House of Commons under section 6(2) of the Government Trading Funds Act 1973 for approval by a resolution of that House.

GOVERNMENT TRADING FUNDS

Made 2nd March 1995

Coming into force 1st April 1995

Whereas:

(1)

the Defence Research Agency Trading Fund Order 1993^f1(“the 1993 Order”) established a trading fund to be known as the Defence Research Agency Trading Fund under the Government Trading Funds Act 1973^f2(“the 1973 Act”);

(2)

it appears to the Secretary of State for Defence (“the Secretary of State”) that: —

(a)

additional operations of the Ministry of Defence are suitable to be financed by means of a trading fund and, in particular, to be so managed that the revenue of the fund would consist principally of receipts in respect of goods or services provided in the course of the operations in question;

(b)

the financing of those operations by means of a trading fund would be in the interests of the improved efficiency and effectiveness of the management of those operations;

(c)

the operations of the Defence Research Agency Trading Fund should be extended to those operations;

(3)

the Secretary of State has, in accordance with section 2 of the 1973 Act, and with the concurrence of the Treasury, determined what Crown assets and liabilities are properly attributable to those additional operations;

(4)

in accordance with section 6(2) of the 1973 Act, a draft of this Order extending the funded operations has been laid before the House of Commons and has been approved by a resolution of that House;

Now therefore, the Secretary of State in exercise of the powers conferred upon him by sections 1(1), 2, 2A(1) and 6(1) of the 1973 Act, and of all other powers enabling him in that behalf, with the concurrence of the Treasury, makes the following Order: —

Annotations

Footnotes

f1: S.I. 1993/380.
f2: 1973 c. 63, as amended by the Government Trading Act 1990 (c. 30). The 1973 Act, as so amended, is set out in Schedule 1 to the 1990 Act. The 1973 Act was further amended by section 119 of the Finance Act 1991 (c. 31), and Schedule 22 to the Finance Act 1993 (c. 34).