Introductory text

GOVERNMENT TRADING FUNDS

Made 31st March 1993

Coming into force 1st April 1993

Whereas:

1. (1)

   It appears to the Lord Chancellor that—

   1. (a)

      those operations described in Schedule 1 to this Order (being operations of a Department of the Government for which the Lord Chancellor is responsible) are suitable to be financed by means of a fund established under the Government Trading Funds Act 1973^f1 and, in particular, to be so managed that the revenue of such a fund would consist principally of receipts in respect of goods or services provided in the course of the operations in question; and

   2. (b)

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

2. (2)

   In accordance with sections 1(3) and 6(4) of the 1973 Act, the Lord Chancellor 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 and his conclusions;

3. (3)

   In accordance with section 2 of the 1973 Act, the Lord Chancellor has determined with Treasury concurrence that the assets and liabilities set out in Schedule 2 to this Order are properly attributable to the operations for which a fund is to be established by this Order and are suitable to be appropriated to that fund;

4. (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 Lord Chancellor in exercise of the powers conferred upon him by sections 1, 2(1) and (7), 2A(1) and 2B(6) of the 1973 Act, and all other powers enabling him in that behalf, with Treasury concurrence hereby makes the following Order: