Statutory Instrument 1991 No. 857

The Central Office of Information Trading Fund Order 1991

---

© Crown Copyright 1991

Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.

The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.

The text of this Internet version of the Statutory Instrument has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Central Office of Information Trading Fund Order 1991, ISBN 0110138570. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.

Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.

To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.

1991 No. 857

GOVERNMENT TRADING FUNDS

The Central Office of Information Trading Fund Order 1991

Laid before the House of Commons in draft

Whereas:
    (1)  It appears to the Chancellor of the Exchequer ("the Chancellor" ) that the operations of the Central Office of Information referred to in Article 3 of this Order are suitable to be financed by means of a trading fund, and that the financing of those operations by means of a trading fund would be in the interests of the improved effectiveness of the management of those operations:

    (2)  The Chancellor has, in accordance with section 2(1) of the Government Trading Funds Act 1973 determined—
(a) with Treasury concurrence that the assets and liabilities set out in Schedule 2 are properly attributable to those operations and are suitable to be appropriated to the fund to be established by the following Order, and

(b) in accordance with Treasury directions the values and amounts so set out:

The Chancellor of the Exchequer, in exercise of the powers conferred on him by sections 1(1), 1(4), 2(1), 2(7), 2A(1), and 2B(6) of the Government Trading Funds Act 1973^[1] and of all other powers enabling him in that behalf, with the concurrence of the Treasury, hereby makes the following Order, a draft of which has been laid before the House of Commons and has been approved by a resolution of that House in accordance with section 6(2) of that Act:—

Citation and commencement

    1.    This Order may be cited as the Central Office of Information Trading Fund Order 1991, and shall come into force on 1st April 1991.

Interpretation

    2.    In this Order—
"the Act" means the Government Trading Funds Act 1973; and


"the fund" means the trading fund established by this Order.

Establishment of the fund

    3.    As from 1st April 1991 for the operations of the department of the government known as the Central Office of Information which are described in Schedule 1 to this Order there shall be established a trading fund to be known as the COI Trading Fund.

Designation of the authorised lender

    4.    The National Loans Fund is hereby designated as the authorised lender to the fund for the purposes of the Act.

Maximum amount to be issued to the fund by way of loan

    5.    The maximum amount that may be issued to the fund under section 2B of the Act shall be £100 million.

Appropriation of assets and liabilities

    6.    The Crown assets and liabilities as at 1st April 1991 described in general terms in Schedule 2 to this Order shall be appropriated as assets and liabilities of the fund at the values and amounts therein specified.

Public dividend capital

    7.    Such part of the capital of the fund as amounts to £265,000 shall be treated as public dividend capital.

Norman Lamont

Chancellor of the Exchequer

27th March 1991
We concur.

Sydney Chapman

Thomas Sackville

Two of the Lords Commissioners of Her Majesty's Treasury

27th March 1991

[1] 1973 c. 63; sections 1, 2, 2A and 2B were substituted by the Government Trading Act 1990 (c. 30). The 1973 Act as amended is set out in Schedule 1 to the 1990 Act. back

Explanatory Note