Introductory text
GOVERNMENT TRADING FUNDS
Made 26th March 2002
Coming into force 1st April 2002
Whereas:
it appears to the Chancellor of the Exchequer that:—
additional operations of the Royal Mint, consisting of the manufacture and supply of gifts and collectible items other than coins and any operation incidental or conducive to such manufacture or supply, are suitable to be financed by means of a trading fund and, in particular, to be so managed that the revenue of the fund would consist principally of receipts in respect of goods or services provided in the course of the operations in question;
it would be in the interests of the improved efficiency and effectiveness of the management of those operations to finance them by means of a trading fund; and
the operations of the Fund should be extended to those operations;
the Chancellor of the Exchequer has in accordance with section 2(1) of the 1973 Act determined what Crown assets and liabilities are properly attributable to those additional operations and are suitable to be appropriated to the Fund; and
in accordance with section 6(2) of the 1973 Act, a draft of this Order extending the operations of the Fund has been laid before the House of Commons and has been approved by a resolution of that House;
Now therefore, the Chancellor of the Exchequer, in exercise of the powers conferred upon him by sections 1(1), 2(1) and 6(1) of the 1973 Act and of all other powers enabling him in that behalf, hereby makes the following Order:—
Annotations
Footnotes
- f1
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1973 c. 63; the 1973 Act was amended by the Government Trading Act 1990 (c. 30) and 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), by section 210 of, and Schedule 22 to, the Finance Act 1993 (c. 34) and by section 108 of the Finance Act 2001 (c. 9).
- f2