Statutory Instrument 1992 No. 640

The Fire Service College Trading Fund Order 1992

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© Crown Copyright 1992

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1992 No. 640

GOVERNMENT TRADING FUNDS

The Fire Service College Trading Fund Order 1992

Whereas—
    (1)  It appears to the Secretary of State for the Home Department ("the Secretary of State") that:—
(a) the operations of the Fire Service College under section 23 of the Fire Services Act 1947^[1] (being operations of the Home Department) are suitable to be financed by means of a fund established under the Government Trading Funds Act 1973^[2] ("the 1973 Act") 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, and

(b) the financing of the operations in question by means of such a fund would be in the interests of the improved efficiency and effectiveness of the management of those operations;


    (2)  In accordance with sections 1(3) and 6(4) of the 1973 Act, the Secretary of State has taken such steps as appear to him appropriate to give an opportunity to such persons as appear to him appropriate to make representations to him and has laid before Parliament a report about the representations received and his conclusions;

    (3)  In accordance with section 2 of the 1973 Act, the Secretary of State has determined with the concurrence of the Treasury that the assets and liabilities set out in the Schedule to this Order are properly attributable to the operations for which a fund is to be established and are suitable to be appropriated to that fund;

    (4)  In accordance with section 6(2) of the 1973 Act, a draft of this Order has been laid before the House of Commons and has been approved by a resolution of that House;
Now, therefore, the Secretary of State, in exercise of the powers conferred upon him by sections 1, 2, 2A and 2B(6)^[3] of the 1973 Act, and all other powers enabling him in that behalf, with the concurrence of the Treasury, hereby makes the following order:

Citation and Commencement
    1.    This Order may be cited as the Fire Service College Trading Fund Order 1992 and shall come into force on 1st April 1992.

Establishment of the Fund
    2.    A trading fund for the operations of the Fire Service College under section 23 of the Fire Services Act 1947 shall be established as from 1st April 1992.

Source of loans
    3.    The Secretary of State for the Home Department is hereby designated as the source of issues to the fund by way of loan.

Assets, liabilities and public dividend capital
    4.—(1)  The Crown assets and liabilities set out in the Schedule to this Order shall be appropriated as assets and liabilities of the fund.

    (2)  53·3% of the amount by which the values of the said assets exceed the amounts of the said liabilities shall be treated as public dividend capital.

Limitation of indebtedness
    5.    The maximum amount that may be issued to the fund by way of loan under section 2B of the 1973 Act shall be £15,000,000.

Kenneth Baker

Secretary of State for the Home Department

5th March 1992
We concur

Thomas Sackville

Nicholas Baker

Two of the Lords Commissioners of Her Majesty's Treasury

10th March 1992

[1] 1947 c. 41. The Fire Service College was established under section 23 of the 1947 Act which enables the Secretary of State to establish and maintain, inter alia, a central training institution for providing courses of instruction in matters relating to fire services. Section 23 was amended by section 1 of the Fire Service College Board (Abolition) Act 1982 (c. 13). back

[2] 1973 c. 63, as amended by the Government Trading Act 1990 (c. 30). The 1973 Act, as so amended, is set out in Schedule 1 to the 1990 Act. Section 2 of the 1973 Act, as so amended, was further amended by section 119 of the Finance Act 1991 (c. 31). back

[3] Sections 2A and 2B of the 1973 Act were inserted by section 1 of the 1990 Act. back

Explanatory Note