LegalizeThe Royal Mint Trading Fund (Extension and Variation) (Amendment) Order 2024
Made: 1st November 2024
Laid before the House of Commons: 5th November 2024
Coming into force: 26th November 2024
The Chancellor of the Exchequer makes the following Order in exercise of the powers conferred by sections 1(1) and 6(1) of the Government Trading Funds Act 1973[^f00001].
Citation, commencement and extent
1
- (1) This Order may be cited as the Royal Mint Trading Fund (Extension and Variation) (Amendment) Order 2024 and comes into force on 26th November 2024.
- (2) This Order extends to England and Wales, Scotland and Northern Ireland.
Variation
2
- (1) The Royal Mint Trading Fund (Extension and Variation) Order 2002[^f00002] is amended as follows.
- (2) In article 4 (limitation of total indebtedness), for “£50 million” substitute “£105 million”.
Signed
Rachel Reeves — Chancellor of the Exchequer — 1st November 2024
Explanatory note
(This note is not part of the Order)
Explanatory Note
The Royal Mint Trading Fund was established under the Government Trading Funds Act 1973 (c. 63) (“the 1973 Act”) by the Royal Mint Trading Fund Order 1975 (S.I. 1975/501). The Royal Mint Trading Fund (Extension and Variation) Order 2002 extended the funded operations of the Royal Mint Trading Fund, appropriated additional assets and liabilities to the Royal Mint Trading Fund, and increased the limitation on the Royal Mint Trading Fund’s total indebtedness.
This Order increases the maximum amount of money that can be loaned to the Royal Mint Trading Fund in accordance with the 1973 Act from £50,000,000 to £105,000,000.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.
Footnotes
[^f00001]: 1973 c. 63. Sections 1(1) and 6(1) were substituted by sections 1(1) and 2(3)(a) of the Government Trading Act 1990 (c. 30). Section 7(1) provides that, for the purposes of the Government Trading Funds Act 1973, the Chancellor of the Exchequer is to be regarded as the Minister responsible for the administration of the Mint.
[^f00002]: S.I. 2002/831.
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