The Medicines Control Agency Trading Fund Order 1993

• Citation: S.I. 1993/751
• Sections: 14

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Medicines Control Agency Trading FundOrder 1993 and shall come into force on 1st April 1993.

(2) In this Order,

“the 1968 Act ” means the Medicines Act 1968 ;

“the fund” means the fund established by Article 2 of this Order;

“funded operations” means the operations of the Medicines Control Agency described in Schedule 1 to this Order.

(3) In this Order expressions defined in the 1968 Act for the purposes of that Act shall have the same meaning as is given for the purposes of that Act.

Section 2 Establishment of the fund

As from 1st April 1993 for such of the operations of that part of the Department of Health known as the Medicines Control Agency as are described in Schedule 1 to this Order, there shall be established a trading fund to be known as the Medicines Control Agency Trading Fund.

Section 3 Source of loans

The Secretary of State for Health 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 Parts I and II respectively of Schedule 2 to this Order shall be appropriated as assets and liabilities respectively of the fund, at values or amounts determined by the Secretary of State for Health in accordance with Treasury directions.

(2) 50 per cent of the amount by which the values of those assets exceed the amounts of those liabilities 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 £5,000,000.

Section 1

All the operations of the Medicines Control Agency carried out in connection with the performance of the following functions:

(a) those of the Health Ministers or the Ministers under Parts I, II, III , IV , V, VI and VIII of, and Schedule 1 and paragraph 27 of Schedule 3 to, the 1968 Act;

(b) those of the appropriate body or the Health Ministers under Part VII of the 1968 Act, except those functions specified in sections 99, 100 and 102 of that Act;

(c) those of the licensing authority under the 1968 Act;

(d) those of the Ministers under the Medicines Act 1971 .

Section 2

All the operations of the Medicines Control Agency carried on (otherwise than in the performance of functions under the 1968 Act) in connection with the sale or supply of medicinal products or similar products, including any such operations carried on in connection with:

(a) any proposed legislation;

(b) any international obligation or activities of the European Communities or any of their institutions;

(c) the provision and dissemination of information.

Section 3

Any operations of the Medicines Control Agency which are incidental, conducive or ancillary to the operations described in paragraphs 1 and 2 above, except in so far as they are specifically excluded by paragraph 1(b).

Section 1

Plant and equipment (including vehicles and computers) as at 1st April 1993 used or allocated for use in the funded operations.

Section 1

Fees paid in advance in respect of services to be rendered on or after 1st April 1993.

Section 2

Computer software as at 1st April 1993 used or allocated for use in the funded operations.

Section 2

Sundry creditors and accruals as at 1st April 1993 arising from the funded operations.

Section 3

Intangible assets, including intellectual property, arising from the funded operations as carried on up to 1st April 1993.

Section 4

Sundry debtors and cash as at 1st April 1993 used or allocated for use in, or arising from, the funded operations.