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The Buying Agency Trading Fund (Amendment) Order 2010

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Statutory Instruments

2010 No. 2930

Government Trading Funds

The Buying Agency Trading Fund (Amendment) Order 2010

Made

8th December 2010

Laid before the House of Commons

10th December 2010

Coming into force

1st January 2011

The Minister for the Cabinet Office, in exercise of the powers conferred by sections 1(1), (4) and (7) and 6(1) of the Government Trading Funds Act 1973(1), with the concurrence of the Treasury, makes the following Order:

Citation and commencement

1.  This Order may be cited as the Buying Agency Trading Fund (Amendment) Order 2010 and comes into force on 1st January 2011.

Amendment of the Buying Agency Trading Fund Order 1991

2.  In article 4 of the Buying Agency Trading Fund Order 1991(2) (designation of the authorised lender), for “the Treasury” substitute “the Minister for the Cabinet Office”.

Revocation of amending order

3.  The Buying Agency Trading Fund (Amendment) Order 2000(3) is revoked.

Francis Maude

Minister for the Cabinet Office

We concur

Michael Fabricant

Angela Watkinson

Two of the Lords Commissioners of Her Majesty’s Treasury

8th December 2010

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the Buying Agency Trading Fund Order 1991.

Article 2 designates the Minister for the Cabinet Office, instead of the Treasury, as the authorised lender to the Buying Solutions Trading Fund (originally known as the Buying Agency Trading Fund). The amendment is consequential upon the transfer of the Buying Solutions Agency from the Treasury to the Cabinet Office.

Article 3 revokes the earlier amending Order that designated the Treasury in place of the previously designated authorised lender.

A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

(1)

1973 c.63; section 1 was substituted by section 1 of the Government Trading Act 1990 (c.30) and section 6(1) was amended by section 2(3) of that Act.

(2)

S.I. 1991/875; relevant amending instruments are S.I 1996/1080, 2000/648, 2009/647.

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