Introductory text

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

GOVERNMENT TRADING FUNDS

Made 2004

Coming into force 1st April 2004

Whereas:

(1)

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

(a)

the operations of the Department for Transport that are referred to in article 3 of, and Schedule 1 to, this Order, being operations of a department of the government for which he is responsible, are suitable to be financed by means of a fund established under the Government Trading Funds Act 1973^f1 (“the 1973 Act”) and, in particular, to be so managed that the revenue would consist principally of receipts in respect of goods or services provided in the course of the operation; and

(b)

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

(2)

in accordance with section 1(3) and 6(4) of the 1973 Act, the Secretary of State has taken such steps as appear to him to be appropriate to give an opportunity to such persons as appear to him to be appropriate to make representations to him and has laid before Parliament a report about the representations received and his conclusions;

(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 the operations and are suitable to be appropriated to the fund;

(4)

in accordance with section 6(2) of the 1973 Act, a draft of this Order 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 by section 1, 2, 2A(1), 2AA(1) and (2), and 2C(1) of the 1973 Act, and of all the other powers enabling him in that behalf, with the concurrence of the Treasury, hereby makes the following Order:

Annotations

Footnotes

f1: 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).