The Land Registry Trading Fund (Additional Assets) Order 1996

Statutory Instruments

1996 No. 750

GOVERNMENT TRADING FUNDS

The Land Registry Trading Fund (Additional Assets) Order 1996

Made

11th March 1996

Laid before Parliament

11th March 1996

Coming into force

1st April 1996

Whereas:

(1) The Land Registry Trading Fund (“the Fund”) was established under the Government Trading Funds Act 1973(1) (“the 1973 Act”) by the Land Registry Trading Fund Order 1993(2) (“the 1993 Order”) with effect from 1st April 1993;

(2) Under article 5(1) of the 1993 Order, the assets and liabilities set out in Schedule 2 to the 1993 Order were appropriated as assets and liabilities of the Fund;

(3) The Lord Chancellor with Treasury concurrence has determined that the additional Crown assets referred to in article 2 of this Order are properly attributable to the funded operations which are financed by means of the Fund and are suitable to be appropriated to the Fund;

Now therefore, the Lord Chancellor, in exercise of the powers conferred on him by sections 1, 2(2) and (7), 2A(1) and 6(1) of the 1973 Act and of all other powers enabling him in that behalf, with Treasury concurrence, hereby makes the following Order:

Citation and commencement

1.  This Order may be cited as the Land Registry Trading Fund (Additional Assets) Order 1996 and shall come into force on 1st April 1996.

Appropriation of additional assets to the Fund

2.—(1) Crown assets consisting of:

(a) freehold land and buildings forming the site of the Nottingham District Land Registry; and

(b) freehold land and buildings adjoining the site of the Tunbridge Wells District Land Registry,

used or allocated for use in the funded operations which are financed by means of the Fund shall be appropriated as additional assets of the Fund.

(2) The whole of the amount of the value of the assets referred to in paragraph (1) shall be treated as public dividend capital of the Fund.

Mackay of Clashfern, C.

Dated 8th March 1996

We concur,

Bowen Wells

Michael Bates

Two of the Lord Commissioners of Her Majesty’s Treasury

Dated 11th March 1996

Explanatory Note

(This note is not part of the Order)

This Order, which comes into force on 1st April 1996, appropriates additional Crown assets to the Government trading fund established under the Land Registry Trading Fund Order 1993 and provides for the whole amount of their value (estimated at £6,100,000) to be treated as public dividend capital of the Fund.

(1)

1973 c. 63; the 1973 Act was amended by the Government Trading Act 1990 (c. 30) and the 1973 Act as so amended is set out in Schedule 1 to the 1990 Act; section 2 was further amended by section 119 of the Finance Act 1991 (c. 31) and by section 210 of, and Schedule 22 to, the Finance Act 1993 (c. 34).

(2)

S.I. 1993/938.