2003 No. 105
The ABRO Trading Fund (Amendment) Order 2003
Made
Laid before Parliament
Coming into force
The Secretary of State in exercise of the powers conferred on him by sections 1, 2AA(1), 2A(1), and 6(1) of the Government Trading Funds Act 19731, with the concurrence of the Treasury, hereby makes the following Order:
Citation and commencement1
This Order which amends the ABRO Trading Fund Order 20022 (“the Principal Order”) may be cited as the ABRO Trading Fund (Amendment) Order 2003 and shall come into force on 14th February 2003.
Amendment to the Principal Order2
In article 4 (assets, liabilities, reserves and public dividend capital) of the Principal Order for paragraphs (2) and (3) substitute the following paragraphs:—
2
£12,900,000 of the amount by which the values of the assets of the fund exceed the amounts of the liabilities shall be treated as the revaluation reserve and a revaluation reserve shall be maintained.
3
Fifty per cent of the amount by which the values of the assets exceeds the amounts of the liabilities, less the amount to be treated as the revaluation reserve, shall be treated as the public dividend capital of the fund.
We concur
(This note is not part of the Order)