LegalizeThe Crown Agents Holding and Realisation Board (Prescribed Day) Order 2008
Made: 26th March 2008
Coming into force: 28th March 2008
Accordingly, the Secretary of State for International Development makes the following Order:
Citation, commencement and interpretation
1
This Order may be cited as the Crown Agents Holding and Realisation Board (Prescribed Day) Order 2008 and comes into force on 28th March 2008.
2
In this Order, “Secretary of State” means the Secretary of State for International Development.
Prescribed day
3
The prescribed day for the purposes of paragraphs 23 and 24 of Schedule 5 to the Crown Agents Act 1979 is 1st April 2008.
Transfer and disposal of property, rights, liabilities or obligations
4
Any property, rights, liabilities or obligations which the Crown Agents Holding and Realisation Board may have immediately before the prescribed day are to transfer to the Secretary of State on that day by virtue of this Order, to be disposed of by the Secretary of State.
Payments
5
- (1) Any sums transferred by, or accruing under, this Order to the Secretary of State are to be paid into the Consolidated Fund.
- (2) Any sums to be provided for the purposes of this Order are to be paid out of money provided by Parliament.
Signed
Douglas Alexander — Secretary of State for International Development — Department for International Development — 26th March 2008
We approve
Steve McCabe — Alan Campbell — Two of the Lords Commissioners of Her Majesty’s Treasury — 26th March 2008
Explanatory note
(This note is not part of the Order)
EXPLANATORY NOTE
This Order prescribes the day on which all property, rights, liabilities and obligations of the Crown Agents Holding and Realisation Board (‘the Board’) are to transfer to the Secretary of State for International Development.
Paragraph 23 of Schedule 5 to the Crown Agents Act 1979 provides that the Secretary of State may make an order with the approval of the Treasury to prescribe a day for these purposes if it appears to him that the Board has substantially discharged its duties under section 25(3)(a) and (c) of that Act.
Article 3 sets 1 April 2008 as the prescribed day.
Article 4 provides that any property, rights, liabilities or obligations of the Board are to transfer to the Secretary of State on that day to be disposed of by the Secretary of State.
Article 5 provides that any sums transferred by, or accruing under, the Order will be paid into the Consolidated Fund. It also provides that sums provided for the purposes of the Order will be paid out of money provided by Parliament.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
Footnotes
1979 c.43; paragraph 23(2) of Schedule 5 was amended by the Crown Agents Act 1995 (c.24), sections 11(8), 13(2) and Schedule 2 Part 1.
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