The Patent Office Trading Fund Order 1991

• Citation: S.I. 1991/1796
• Sections: 19

Section 1 Citation and commencement

This Order may be cited as the Patent Office Trading Fund Order 1991 and shall come into force on 1st October 1991.

Section 2 Establishment of the fund

As from 1st October 1991 for all the operations of the Department of Trade and Industry known as the Patent Office, which operations are more particularly described in Schedule 1 to this Order, there shall be established a trading fund to be known as the Patent Office Trading Fund (hereinafter referred to as “the fund”).

Section 3 Source of loans

The Secretary of State is hereby designated as the source of issues to the fund by way of loan.

Section 4 Assets, liabilities and public dividend capital

–

(1) The Crown assets and liabilities set out in Schedule 2 to this Order shall be appropriated as assets and liabilities of the fund.

(2) The sum of £8,489,000 shall be treated as public dividend capital.

Section 5 Limitation of indebtedness

The maximum amount that may be issued to the fund by way of loan under section 2B of the 1973 Act shall be £75,000,000.

Section 6 Annual reports

Insofar as the provisions of:

(a) section 121 of the Patents Act 1977( ) (Comptroller’s annual report);

(b) section 42 of the Registered Designs Act 1949( ) (Annual report of Registrar); and

(c) section 45 of the Trade Marks Act 1938( ) (Annual report of Registrar),

require a report to be prepared and laid before both Houses of Parliament before 1st June in every year in respect of the preceding calendar year, that requirement shall be treated as satisfied:

(i) for the period 1st January 1991 to 31st March 1992, by the preparation of a report for that period, and the laying of the same before both Houses of Parliament on or before 30th November 1992; and

(ii) thereafter, by the preparation of a report in respect of each financial year and by the laying of the same before both Houses of Parliament on or before 30th November next following the end of the financial year.

Section 1

Operations concerned with the promotion and administration of legislation relating to the foregoing;

Section 2

operations arising out of anything done or being proposed by the European Communities or any of their institutions or any international organisation, or in pursuance of any international instrument or convention, in relation to or in connection with the foregoing;

Section 3

the provision and dissemination of information and the procurement of publicity and advertising relating to or in connection with the foregoing;

Section 4

operations incidental, conducive or ancillary to the operations described above.

Section 1 Assets

Freehold land and buildings at Concept House, Newport, South Wales.

Section 1 Liabilities

Repayment to the Department of Trade and Industry of the accumulated and deferred costs of relocations as at 1st October 1991.

Section 2 Assets

Plant, equipment and computers as at 1st October 1991 used or allocated for use in the funded operations.

Section 2 Liabilities

Deposits held for publications customers.

Section 3 Assets

The accumulated and deferred costs as at 1st October 1991 of the relocation of the Patent Office from premises in London to Concept House, Newport.

Section 3 Liabilities

Value owed in respect of fees received in advance of services yet to be rendered.

Section 4 Assets

Sundry debtors.

Section 4 Liabilities

Fees held on behalf of the European Patent Office and the World Intellectual Property Organisation from time to time prior to transfer.

Section 5 Liabilities

Sundry creditors and accruals.