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The Scotland Act 1998 (Transfer of Borrowing of the Registers of Scotland Executive Agency Trading Fund) Order 1999
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- 1999 No. 1596
- Article 2
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Transfer of borrowing to the Scottish Ministers
2.—(1) Any amount outstanding immediately before the commencement of section 71(5) of the 1998 Act(1) in respect of the principal of the sum treated by virtue of section 2(3) of the 1973 Act as issued to the ROS Trading Fund on the day on which the Order establishing that Fund came into force (“the issue date”) shall be treated as an advance made by the Secretary of State to the Scottish Ministers on the issue date.
(2) That advance shall be repaid by the Scottish Ministers to the Secretary of State at such times and by such methods, and interest on the advance shall be paid by the Scottish Ministers to the Secretary of State at such rates and at such times, as were determined by the Treasury under section 2B(3) of the 1973 Act(2) in respect of the sum referred to in paragraph (1).
(1)
In terms of article 2(1) of the Scotland Act 1998 (Commencement) Order 1998 (S.I. 1998/3178) section 71(5) of the 1998 Act comes into force on 1st July 1999.
(2)
Section 2B(3) was inserted into the 1973 Act by section 1(1) of the Government Trading Act 1990 (c. 30).
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