Explanatory note

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 1991 (S.I. 1991/858) in respect of any financial year beginning after 31st March 1991 to £4.75 million less the total of any sums paid in that year out of money provided by Parliament in respect of the pay, pension etc. of the Registrar of Public Lending Right. This Order further increases the figure of £4.75 million to £5 million with effect from the beginning of the 1993/94 financial year.