The ABRO Trading Fund (Amendment) Order 2003

• Citation: S.I. 2003/105
• Sections: 2

Section 1 Citation and commencement

This Order which amends the ABRO Trading Fund Order 2002 (“the Principal Order”) may be cited as the ABRO Trading Fund (Amendment) Order 2003 and shall come into force on 14 th February 2003.

Section 2 Amendment to the Principal Order

In article 4 (assets, liabilities, reserves and public dividend capital) of the Principal Order for paragraphs (2) and (3) substitute the following paragraphs:—

(2) £12,900,000 of the amount by which the values of the assets of the fund exceed the amounts of the liabilities shall be treated as the revaluation reserve and a revaluation reserve shall be maintained.

(3) Fifty per cent of the amount by which the values of the assets exceeds the amounts of the liabilities, less the amount to be treated as the revaluation reserve, shall be treated as the public dividend capital of the fund.