Statutory Instrument 1995 No. 650

The Defence Evaluation and Research Agency Trading Fund Order 1995

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© Crown Copyright 1995

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Order laid before the House of Commons under section 6(2) of the Government Trading Funds Act 1973 for approval by a resolution of that House.

1995 No. 650

GOVERNMENT TRADING FUNDS

The Defence Evaluation and Research Agency Trading Fund Order 1995

Whereas:
    (1)  the Defence Research Agency Trading Fund Order 1993^[1]("the 1993 Order") established a trading fund to be known as the Defence Research Agency Trading Fund under the Government Trading Funds Act 1973^[2]("the 1973 Act");

    (2)  it appears to the Secretary of State for Defence ("the Secretary of State") that: —
(a) additional operations of the Ministry of Defence 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;

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

(c) the operations of the Defence Research Agency Trading Fund should be extended to those operations;


    (3)  the Secretary of State has, in accordance with section 2 of the 1973 Act, and with the concurrence of the Treasury, determined what Crown assets and liabilities are properly attributable to those additional operations;

    (4)  in accordance with section 6(2) of the 1973 Act, a draft of this Order extending the funded operations 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(1), 2, 2A(1) and 6(1) of the 1973 Act, and of all other powers enabling him in that behalf, with the concurrence of the Treasury, makes the following Order: —

    1.    This Order may be cited as the Defence Evaluation and Research Agency Trading Fund Order 1995 and shall come into force on 1st April 1995.

    2.    The 1993 Order shall be varied in accordance with the following articles.

    3.    The operations of the Defence Research Agency Trading Fund shall, from 1st April 1995, be extended to those parts of the Ministry of Defence which carry out operational analysis and technical programmes functions and to the operations of the following parts of the Ministry of Defence:
the Atomic Weapons Establishment, Foulness; the British Underwater Test and Evaluation Centre; the Centre for Human Sciences; the Chemical and Biological Defence Establishment; the Defence Operational Analysis Centre; the Defence Research Information Centre; the Directorate General of Test and Evaluation.

    4.    The Defence Research Agency Trading Fund, as its operations are extended by this Order, shall be known as the Defence Evaluation and Research Agency Trading Fund.

    5.    The Crown assets set out in the Schedule to this Order ("the additional assets") and the Crown liabilities so set out ("the additional liabilities"), being assets and liabilities properly attributable to those extended operations, shall be appropriated as assets and liabilities of the Defence Evaluation and Research Agency Trading Fund.

    6.    68% of the amount by which the value of the additional assets exceeds the amounts of the additional liabilities shall be treated as public dividend capital of the Defence Evaluation and Research Agency Trading Fund.

Malcolm Rifkind

Secretary of State for Defence

22nd February 1995
We concur

Timothy Kirkhope

Andrew Mitchell

Two of the Lords Commissioners of Her Majesty's Treasury

2nd March 1995

[1] S.I. 1993/380. 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. The 1973 Act was further amended by section 119 of the Finance Act 1991 (c. 31), and Schedule 22 to the Finance Act 1993 (c. 34). back

Explanatory Note