# The Ordnance Survey Trading Fund Order 1999, Note: Explanatory note


(This note is not part of the Order)
This Order provides for the setting up as from 1st April 1999 of a fund with public money under the Government Trading Funds Act 1973 (“the 1973 Act”) for the operations of the Ordnance Survey (Article 2). It designates the National Loans Fund as the authorised lender under the fund (Article 3).
The Order specifies the assets and liabilities which are to be appropriated to the fund, and requires £4,500,000 to be treated and maintained as a revaluation reserve. It also provides for £14,000,000 (part of the difference between the value of the assets and the amount of the liabilities of the fund) to be treated as public dividend capital of the fund (Article 4).
The maximum borrowing of the fund, being the total outstanding of the amounts issued to the fund under section 2B of the 1973 Act plus the total of the fund’s public dividend capital, is not to exceed £30,000,000 (Article 5).

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Source: https://www.legislation.gov.uk/ukdsi/1999/0110820525/note (the official version)
Page: https://openlegislation.uk/draft-ordnance-survey-trading-fund-order-1999/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.