Statutory Instruments
Government trading funds
Made
19th February 2007
Laid before Parliament
22nd February 2007
Coming into force
31st March 2007
The Secretary of State for Transport makes this Order, with the concurrence of the Treasury, in exercise of the powers conferred on him by sections 1 and 2C of the Government Trading Funds Act 1973(1).
1. This Order may be cited as the Vehicle and Operator Services Agency Trading Fund (Maximum Borrowing) Order 2007 and shall come into force on the 31st of March 2007.
2. In article 6 of the Vehicle Inspectorate Trading Fund Order 1991(2) “£150,000,000” shall be substituted for “£70,000,000”.
Signed by authority of the Secretary of State
S.J. Ladyman
Minister of State for Transport
Department for Transport
6th February 2007
We concur
K. Brennan
Alan Campbell
Two of the Lords Commissioners of Her Majesty’s Treasury
19th February 2007
(This note is not part of the Order)
This Order increases the maximum that the Vehicle and Operator Services Agency Fund may borrow from £70,000,000 to £150,000,000.
A Regulatory Impact Assessment has not been produced for this instrument because it has no impact on the cost of business.
The Vehicle and Operator Services Agency Trading Fund was originally established as the Vehicle Inspectorate Trading Fund (“the VI Fund”) by the Vehicle Inspectorate Trading Fund Order 1991 (S.I. 1991/773) with effect from 1st April 1991.
Under the Vehicle and Operator Services Agency Trading Fund Order 2003 (S.I. 2003/942) the range of operations covered by the VI Fund was extended and the extended fund was renamed as the Vehicle and Operator Services Agency Fund.
S.I. 1991/773. Article 6 was amended by article 7 of S.I. 2003/942.