The Central Office of Information Trading Fund Order 1991

Made: 27th March 1991

Coming into force: 1st April 1991

The Chancellor of the Exchequer, in exercise of the powers conferredon him by sections 1(1), 1(4), 2(1), 2(7), 2A(1), and 2B(6) of theGovernment Trading Funds Act 1973[^f00001] and of all other powers enabling him in that behalf,with the concurrence of the Treasury, hereby makes the following Order,a draft of which has been laid before the House of Commons and has beenapproved by a resolution of that House in accordance with section 6(2)of that Act:—

Citation and commencement

1

This Order may be cited as the Central Office of Information TradingFund Order 1991, and shall come into force on 1st April 1991.

Interpretation

2

In this Order—

• “the Act” means the Government Trading Funds Act 1973; and

• “the fund” means the trading fund established by this Order.

Establishment of the fund

3

As from 1st April 1991 for the operations of the department of thegovernment known as the Central Office of Information which aredescribed in Schedule 1 to this Order there shall be established atrading fund to be known as the COI Trading Fund.

Designation of the authorised lender

4

The National Loans Fund is hereby designated as the authorisedlender to the fund for the purposes of the Act.

Maximum amount to be issued to the fund by way of loan

5

The maximum amount that may be issued to the fund under section 2Bof the Act shall be £100 million.

Appropriation of assets and liabilities

6

The Crown assets and liabilities as at 1st April 1991 described ingeneral terms in Schedule 2 to this Order shall be appropriated asassets and liabilities of the fund at the values and amounts thereinspecified.

Public dividend capital

7

Such part of the capital of the fund as amounts to£265,000 shall be treated as public dividend capital.

SCHEDULE 1 — FUNDED OPERATIONS

The operations of the Central Office of Information to be funded bythe fund are:—

• (a) the procurement and supply of goods or services in connection withthe provision, through any medium of information, communication oreducation, of advertising, publicity or information;

• (b) operations incidental, conducive or otherwise ancillary to theforegoing.

SCHEDULE 2 — ASSETS AND LIABILITIES APPROPRIATED TO THE FUND

Signed

Norman Lamont — Chancellor of the Exchequer — 27th March 1991

We concur.

Sydney Chapman — Thomas Sackville — Two of the Lords Commissioners of Her Majesty’s Treasury — 27th March 1991

Explanatory note

(This note is not part of the Order)

This Order provides for setting up a trading fund established withpublic money to finance the operations of the Central Office ofInformation. It designates the National Loans Fund as the authorisedlender to the fund, imposes a limit of £100 million on thesums that may be issued to the fund by way of loan, and provides thatpart of the capital of the trading fund amounting to £265,000is to be public dividend capital. Schedule 1 describes the operations inquestion, and Schedule 2 the assets and liabilities that areappropriated to the fund and their values and amounts.

Footnotes

[^f00001]: 1973 c. 63; sections 1, 2, 2A and 2B were substituted bythe Government Trading Act 1990 (c. 30). The 1973 Act as amended is setout in Schedule 1 to the 1990 Act.