The Driver and Vehicle Licensing Agency Trading Fund (Variation) Order 2005

• Citation: S.I. 2005/1672
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Driver and Vehicle Licensing Agency Trading Fund (Variation) Order 2005 and shall come into force on 18th July 2005.

Section 2 Variation of the Principal Order

(1) Article 5 of the Driver and Vehicle Licensing Agency Trading Fund Order 2004 is varied as follows.

(2) In paragraph (2), for “£4,775,000” substitute “£2,523,425”.

(3) In paragraph (3), for “£20,748,000” substitute “£37,080,279”.

(4) After paragraph (3) insert—

(3A) The sum of £7,573,428, being part of the amount by which the values of those assets exceeds the amount of those liabilities shall be treated as general reserve in the accounts of the fund, and the reserve so created shall be maintained as a general reserve.

(5) In paragraph (4), for “£18,002,000” substitute “£19,047,643”.