Statutory Instrument 1992 No. 123

The Buying Agency Trading Fund (Variation) Order 1992

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© Crown Copyright 1992

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1992 No. 123

GOVERNMENT TRADING FUNDS

The Buying Agency Trading Fund (Variation) Order 1992

Whereas:
    (1)  the Buying Agency Trading Fund was established under the GovernmentTrading Funds Act 1973^[1] ( "the 1973 Act") by the Buying Agency Trading Fund Order 1991^[2] ( "the principal order") with effect from 1st April 1991;

    (2)  the Crown assets and liabilities described in general terms inSchedule 2 to the principal order were appropriated as assets andliabilities of the fund at the values and amounts specified in thatSchedule; and

    (3)  a valuation of those assets and liabilities as at 1st April 1991which was carried out subsequently to that date necessitates thevariation of the values and amounts specified in Schedule 2 to theprincipal order: Now therefore, the Secretary of State, in exercise ofthe powers conferred on him by sections 1 and 6(1) of the 1973 Act andof all other powers enabling him in that behalf, with the concurrence ofthe Treasury, hereby makes the following Order:—

    1.    This Order may be cited as the Buying Agency Trading Fund(Variation) Order 1992 and shall come into force on 21st February 1992.

    2.    The Buying Agency Trading Fund Order 1991 shall be varied bysubstituting for Schedule 2 to that Order the followingSchedule:—
SCHEDULE 2Article 6

ASSETS AND LIABILITIES APPROPRIATED TO THE FUND


"Assets Value (in £000)




Plant, machinery, fixtures, fittings and equipment 90
  Debtors and cash 2,118

  Liabilities Amount (in £000)



Trade creditors 1,477
  Accruals 248

Michael Heseltine

One of Her Majesty's Principal Secretaries of State

8th January 1992
We concur

Sidney Chapman

Irvine Patnick

Two of the Lords Commissioners of Her Majesty's Treasury

22nd January 1992

The Buying Agency Trading Fund was established by the Buying AgencyTrading Fund Order 1991 (the "principal order") under the Government Trading Fund Act 1973 with effect from 1stApril 1991. At the time of establishment a final valuation (as at April1st 1991) of the assets and the liabilities appropriated to the fund bythe Order had not been carried out. As a consequence of such a valuationarticle 2 of this Order varies the principal order by substitutingcorrect values for the assets and correct amounts for the liabilities soappropriated in place of the values and amounts specified in Schedule 2to the principal order.

[1] 1973 c. 63; the 1973 Act was amended by the GovernmentTrading Act 1990 (c. 30) and the 1973 Act as so amended is set out inSchedule 1 to the 1990 Act; section 2 was further amended by section 119of the Finance Act 1991 (c. 31). back

[2] S.I. 1991/875. back