EXPLANATORY NOTE
(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.