The Meteorological Office Trading Fund (Maximum Borrowing) Order 2019

Made: 12th May 2019

Laid before Parliament: 15th May 2019

Coming into force: 5th June 2019

The Secretary of State, with the concurrence of the Treasury, makes the following Order, in exercise of the powers conferred by sections 1 and 2C of the Government Trading Funds Act 1973[^f00001].

Citation and commencement

1

This Order may be cited as the Meteorological Office Trading Fund (Maximum Borrowing) Order 2019 and come into force on 5th June 2019.

Amendment of maximum borrowing limit

2

In article 5 of the Meteorological Office Trading Fund Order 1996[^f00002] for “£200,000,000”, substitute “£300,000,000”.

Signed

Chris Skidmore — Parliamentary Under Secretary of State — Department for Business, Energy and Industrial Strategy — 12th May 2019

We concur

Mike Freer — Paul Maynard — Two of the Lords Commissioners of Her Majesty’s Treasury — 9th May 2019

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

The Meteorological Office Trading Fund was established by the Meteorological Office Trading Fund Order 1996 on 1st April 1996.

This Order increases the maximum that the Meteorological Office Trading Fund may borrow from £200,000,000 to £300,000,000.

An Impact Assessment has not been produced for this instrument because it has no impact on business, charities or voluntary bodies.

Footnotes

[^f00001]: 1973 c.63; section 1 was amended by the Government Trading Act 1990 (c.30), section 1. Section 2C was inserted by the the Finance Act 1993 (c.34), Schedule 22, paragraph 4.

[^f00002]: S.I. 1996/774, amended by S.I. 2011/2436 and by S.I. 2016/992.