OpenLegislation

The Public Lending Right (Increase of Limit) Order 1988

S.I. 1988/609 · Made 24 March 1988

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

LIBRARIES

Made 24th March 1988

Coming into force 1st April 1988

Whereas a draft of this Order has been laid before the House of Commons in accordance with section 2(3) of the Public Lending Right Act 1979f1 and has been approved by a resolution of that House:

Now, therefore, the Lord President of the Council, in exercise of the powers conferred by the said section 2(3) and now vested in himf2, and with the consent of the Treasury, hereby makes the following Order:—

Annotations to the whole text

Footnotes

f1

1979 c. 10.

f2

S.I. 1979/907, 1981/207, 1983/879, 1984/1814, 1986/600.

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature
  4. Explanatory note

1

This Order may be cited as the Public Lending Right (Increase of Limit) Order 1988 and shall come into force on 1 April 1988.

2

The limit on the sums to be paid under section 2(2) of the Public Lending Right Act 1979 out of money provided by Parliament into the Central Fund to satisfy the liabilities of any one financial year of the Fund shall, in respect of any financial year beginning after 31st March 1988, be increased to £3.5 million less the total of any sums paid in that year, out of money so provided, under paragraph 2 of the Schedule to that Act (pay, pension, etc of Registrar).

Signature

Wakeman

Lord President of the Council

21st March 1988

Tony Durant

David Lightbown

Two of the Lords Commissioners of Her Majesty’s Treasury

21st March 1988

Explanatory note

(This note is not part of the Order)

Section 2(2) of the Public Lending Right Act 1979 limits the sums which are to be paid into the Central Fund out of money provided by Parliament for the purpose of satisfying liabilities of the Fund in respect of the public lending right in any one financial year. The limit was raised by the Public Lending Right (Increase of Limit) Order 1985 (S.I. 1985/201) in respect of any financial year beginning after 31st March 1985 to £2.75 million less the total of any sums paid in that year out of moneys provided by Parliament in respect of the pay, pension etc of the Registrar of Public Lending Right. This Order further increases the figure of £2.75 million to £3.5 million with effect from the beginning of the 1988/89 financial year.