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The Registers of Scotland Executive Agency Trading Fund Order 1996
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- 1996 No. 1004 (S. 107)
- Explanatory Note
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Explanatory Note
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This Order provides for the setting up as from 1st April 1996 of a fund with public money under the Government Trading Funds Act 1973 to finance the operations of the Department of the Registers of Scotland, now known as the Registers of Scotland Executive Agency, described in Schedule 1 to the Order. It also provides for the fund to be under the control and management of the Keeper of the Registers of Scotland. The Order designates the National Loans Fund as the authorised lender to the fund and imposes a limit of £40,000,000 on the amount which may be lent to it. It provides for the assets (estimated at £13,763,000) and liabilities (estimated at £3,715,000) set out in Schedule 2 to the Order to be appropriated to the fund and for 40% of the amount by which the value of the assets exceeds the value of the liabilities to be treated as public dividend capital.
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