The Defence Science and Technology Laboratory Trading Fund Order 2011
| Jurisdiction | UK Non-devolved |
| Citation | SI 2011/1330 |
| Year | 2011 |
2011 No. 1330
Defence
The Defence Science and Technology Laboratory Trading Fund Order 2011
Made 19th May 2011
Coming into force 20th May 2011
The Defence Research Agency Trading Fund Order 19931established a trading fund known as the Defence Research Agency Trading Fund under the Government Trading Funds Act 19732.
The 1993 Order was varied by the Defence Evaluation and Research Agency Trading Fund Order 19953and the trading fund was renamed and known as the Defence Evaluation and Research Agency Trading Fund.
The 1995 Order was amended by the Defence Evaluation and Research Agency Trading Fund (Amendment) Order 19964.
The 1993, 1995 and 1996 Orders were varied by the Defence Science and Technology Laboratory Trading Fund Order 20015and the trading fund was renamed and known as the Defence Science and Technology Laboratory Trading Fund.
It now appears to the Secretary of State for Defence (“the Secretary of State”) that—
(a) the existing operations of the Defence Science and Technology Laboratory Trading Fund should continue to be financed by means of a trading fund,
(b) additional operations of the Ministry of Defence are suitable to be financed by means of a trading fund and, in particular, to be so managed that the revenue of the fund would consist principally of receipts in respect of goods or services provided in the course of the operations in question,
(c) the financing of those additional operations by means of a trading fund would be in the interests of the improved efficiency and effectiveness of the management of those operations, and
(d) the operations of the Defence Science and Technology Laboratory Trading Fund should be extended to those additional operations.
In accordance with section 6(2) of the Government Trading Funds Act 1973, a draft of this Order extending the funded operations has been laid before the House of Commons and has been approved by a resolution of that House.
The Secretary of State in exercise of the powers conferred by sections 1, 2, 2A(1), 2C and 6(1) of the Government Trading Funds Act 1973 and with the concurrence of the Treasury makes the following Order:
Citation and commencement
1. This Order may be cited as the Defence Science and Technology Laboratory Trading Fund Order 2011 and shall come into force on the day after the day on which it is made.
Continuation and extension of the fund
2.—(1) There shall continue to be a trading fund known as the Defence Science and Technology Laboratory Trading Fund (“the fund”).
(2) As from the date this Order comes into force, the operations of the fund shall be extended.
(3) The funded operations are set out in Schedule 1.
Authorised Lender
3. The Secretary of State for Defence continues to be designated as the source of issues to the fund by way of loan.
Assets and liabilities of the fund
4. The Crown assets and liabilities set out in Schedule 2 continue to be appropriated as assets and liabilities of the fund.
Public dividend capital
5. The public dividend capital of the fund continues to be £50,400,000.
Maximum borrowing
6. The maximum amount that may be issued to the fund under section 2C of the Government Trading...
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