Introductory text

GOVERNMENT TRADING FUNDS

Made 26th March 2001

Coming into force 1st July 2001

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)

the 1993 Order was varied by the Defence Evaluation and Research Agency Trading Fund Order 1995^f3 (“the 1995 Order”) as amended by the Defence Evaluation and Research Agency Trading Fund (Amendment) Order 1996^f4 (“the 1996 Order”) and the trading fund as varied and amended is known as the Defence Evaluation and Research Agency Trading Fund (“the Fund”);

(3)

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

(a)

those operations of the Defence Evaluation and Research Agency (“DERA”) referred to in Article 3 to this Order (“the continuing operations”) should continue to be funded by means of the Fund;

(b)

those operations of DERA referred to in Article 4 to this Order should cease to be so funded;

(4)

the continuing operations are to be known from the date of commencement of this Order as the Defence Science and Technology Laboratory;

(5)

the Secretary of State has, in accordance with section 4A of the 1973 Act, and with the concurrence of the Treasury, determined that—

(a)

those assets and liabilities set out in Schedule 1 to this Order shall continue to be attributable to the continuing operations and shall continue to be part of the Fund; and

(b)

those assets and liabilities set out in Schedule 2 to this Order shall cease to be attributable to the continuing operations and shall cease to be part of the Fund;

(6)

in accordance with section 6(2) of the 1973 Act, a draft of this Order varying 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 section 4A of the 1973 Act, and of all other powers enabling him in that behalf, with the concurrence of the Treasury, hereby 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).
f3: S.I. 1995/650.
f4: S.I. 1996/1447.