The Buying Agency Trading Fund Order 1991

• Citation: S.I. 1991/875
• Sections: 7

Section 1 Citation and commencement

This Order may be cited as the Buying Agency Trading Fund Order1991, and shall come into force on 1st April 1991.

Section 2 Interpretation

In this Order—

“ the Act ” means the Government Trading Funds Act 1973; and

“the fund” means the trading fund established by this order.

Section 3 Establishment of the fund

As from 1st April 1991 for the operations of the department of thegovernment known as the Buying Agency which are described in Schedule 1to this Order there shall be established a trading fund to be known asthe Buying Agency Trading Fund.

Section 4 Designation of the authorised lender

The Secretary of State is hereby designated the authorised lender tothe fund for the purposes of the Act.

Section 5 Maximum amount to be issued to the fund by way of loan

The maximum amount that may be issued to the fund by way of loanunder section 2B of the Act shall be £10 million.

Section 6 Appropriation of assets and liabilities

The Crown assets and liabilities as at 1st April 1991 described ingeneral terms in Schedule 2 to this Order shall be appropriated asassets and liabilities of the fund at the values and the amountsspecified in that Schedule.

Section 7 Public dividend capital

Such part of the capital of the fund as amounts to£100,000 shall be treated as public dividend capital.