Statutory Instrument 1999 No. 965

The Ordnance Survey Trading Fund Order 1999

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© Crown Copyright 1999

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(a) the operations of the Crown service known as Ordnance Survey which are referred to in Article 2 of, and Schedule 1 to, this Order, being operations of a department of the government for which he is responsible, are suitable to be financed by means of a fund established under the Government Trading Funds Act 1973[1] ("the 1973 Act") and, in particular, to be so managed that the revenue would consist principally of receipts in respect of goods or services provided in the course of the operations, and

(b) the financing of these operations by means of a trading fund would be in the interests of the improved efficiency and effectiveness of the management of the 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 to be appropriate to give an opportunity to such persons as appear to him to be appropriate to make representations to him and has laid before Parliament a report about the representations received and his conclusions;

    (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 the operations and are suitable to be appropriated to the 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 by sections 1, 2, 2A(1), 2AA(1) and 2C(1) of the 1973 Act, and of 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 Ordnance Survey Trading Fund Order 1999 and shall come into force on 1st April 1999.

Establishment of the Fund
     2.  - (1) From 1st April 1999, there shall be established a trading fund to be known as The Ordnance Survey Trading Fund ("the Fund").

    (2) The operations of the Crown service known as Ordnance Survey described in Schedule 1 shall be financed by means of the Fund.

Source of loans
     3. The National Loans Fund is designated as the source of issues to the Fund by way of loan.

Assets, liabilities, reserves and public dividend capital
     4.  - (1) The Crown assets and liabilities set out in Schedule 2 shall be appropriated as assets and liabilities of the Fund.

    (2) £4,500,000 of the amount by which the values of the assets of the Fund exceeds the amounts of the liabilities shall be treated as a revaluation reserve in the accounts of the Fund, and the reserve so treated shall be maintained as a revaluation reserve.

    (3) £14,000,000, being part of the amount by which the value of the assets of the Fund exceeds the amount of the liabilities of the Fund, shall be treated as public dividend capital of the Fund.

Maximum borrowing etc
     5. The aggregate of the following shall not exceed £30,000,000:

(a) the total outstanding at any given time in respect of amounts issued to the Fund under section 2B of the Government Trading Funds Act 1973 (other than as originating debt) and,

(b) the total at that time constituting public dividend capital issued to the Fund under section 2A(2A) of that Act.

Signed by authority of the Secretary of State


Nick Raynsford
Parliamentary Under Secretary of State, Department of the Environment, Transport and the Regions

23rd March 1999



We concur,


Jane Kennedy

Bob Ainsworth
Two of the Lords Commissioners of Her Majesty's Treasury

24th March 1999