The Queen Elizabeth II Conference Centre Trading Fund Order 1997

• Citation: S.I. 1997/933
• Sections: 5

Section 1 Citation and Commencement

This Order may be cited as The Queen Elizabeth II Conference Centre Trading Fund Order 1997 and shall come into force on 1st April 1997.

Section 2 Establishment of the Fund

(1) From 1st April 1997, there shall be established a trading fund to be known as The Queen Elizabeth II Conference Centre Trading Fund (hereinafter referred to as “the fund”).

(2) The relevant operations of the Department of the Environment described in Schedule 1 to this Order shall be financed by means of the fund.

Section 3 Source of Loans

The responsible Minister 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) 50 per cent of the amount by which the values of the assets of the fund exceed the amounts of its liabilities shall be treated as public dividend capital of the fund.

Section 5 Maximum borrowing etc

The aggregate of the following shall not exceed £2,000,000

(a) the total outstanding at any given time in respect of amounts issued to the fund under section 2B of the 1973 Act (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.