The British Film Fund Agency (Dissolution) Order 1988

• Citation: S.I. 1988/37
• Sections: 5

Section 1 Citation and commencement

This Order may be cited as the British Film Fund Agency (Dissolution) Order 1988 and shall come into force forthwith.

Section 2 Dissolution of the British Film Fund Agency

On the 30 April 1988 (hereinafter referred to as “the dissolution date”), the property, rights and liabilities which immediately before that date were the property, rights and liabilities of the Agency shall, by virtue of this article and without further assurance, vest in the Secretary of State for Trade and Industry and the Agency shall be dissolved.

Section 3 Agency’s duty to give information

It shall be the duty of the Agency prior to the dissolution date to give the Secretary of State all such information, to prepare all such documents and to do all such other things as appear to the Secretary of State to be necessary or expedient for facilitating the carrying into effect of the provisions of article 2 of this Order and for assisting the Secretary of State in managing or otherwise dealing with any property, rights or liabilities thereby transferred to him.

Section 4 Agency’s final accounts

(1) The Agency shall prepare a statement of accounts in respect of the last financial year of the Agency for the period commencing on 12th October 1986 and terminating on 10th October 1987, and the Agency shall comply with paragraphs 7(4) and (5) of Schedule 1 to the Film Levy Finance Act 1981 not later than the dissolution date.

(2) Special liquidation accounts, in such form as the Secretary of State with the approval of the Treasury may direct, relating to the financial transactions of the Agency occurring on or after the end of the last financial year of the Agency and up to and including the dissolution date and including a statement of affairs of the Agency immediately prior to its dissolution shall be separately prepared by the Agency for delivery to the Secretary of State within a period not exceeding 6 weeks from the dissolution date.

Section 5 Surplus moneys

The Secretary of State shall after the Agency’s dissolution apply any moneys which he is satisfied are not, and will not be, required for the purposes of meeting the liabilities of the Agency and the expenses of the winding up, for purposes connected with the British film industry.