The Scotland Act 1998 (Transfer of Borrowing of the Registers of Scotland Executive Agency Trading Fund) Order 1999

• Citation: S.I. 1999/1596
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Scotland Act 1998 (Transfer of Borrowing of the Registers of Scotland Executive Agency Trading Fund) Order 1999 and shall come into force on the principal appointed day

(2) In this Order–

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

“the 1998 Act ” means the Scotland Act 1998; and

“the ROS Trading Fund ” means the Registers of Scotland Executive Agency Trading Fund(

Section 2 Transfer of borrowing to the Scottish Ministers

(1) Any amount outstanding immediately before the commencement of section 71(5) of the 1998 Act in respect of the principal of the sum treated by virtue of section 2(3) of the 1973 Act as issued to the ROS Trading Fund on the day on which the Order establishing that Fund came into force (“the issue date”) shall be treated as an advance made by the Secretary of State to the Scottish Ministers on the issue date.

(2) That advance shall be repaid by the Scottish Ministers to the Secretary of State at such times and by such methods, and interest on the advance shall be paid by the Scottish Ministers to the Secretary of State at such rates and at such times, as were determined by the Treasury under section 2B(3) of the 1973 Act in respect of the sum referred to in paragraph (1).