Statutory Instruments
Government Trading Funds
Made
28th April 2008
Laid before the House of Commons
1st May 2008
Coming into force
23rd May 2008
The Secretary of State, in exercise of the powers conferred by sections 1 and 6(1) of the Government Trading Funds Act 1973(1), with the concurrence of the Treasury, makes the following Order:—
1. This Order may be cited as the Defence Aviation Repair Agency Trading Fund (Revocation) Order 2008 and shall come into force on 23rd May 2008.
2. The Defence Aviation Repair Agency Trading Fund Order 2001(2) is revoked.
Des Browne
Secretary of State for Defence
25th April 2008
We concur
Frank Roy
Alan Campbell
Two of the Lords Commissioners of Her Majesty’s Treasury
28th April 2008
(This note is not part of the Order)
This Order revokes the Defence Aviation Repair Agency Trading Fund Order 2001 (“the 2001 Order”) as amended by the Defence Aviation Repair Agency Trading Fund (Amendment) Order 2008 (“the 2008 Order”). As a result of the revocation, the trading fund established by the 2001 Order, and amended by the 2008 Order, ceases to exist.
The Electronics and Large Aircraft operations of the Defence Aviation Repair Agency (DARA) is financed by means of a new trading fund, the Defence Support Group (DSG), which was established under the Defence Support Group Trading Fund Order 2008 (S.I. 2008/563). The assets and liabilities relating to those operations were appropriated to the new DSG Trading Fund.
The remaining operations of DARA, namely the Rotary Wing and Components business units, cease to be financed by means of a trading fund; those operations have been sold to Vector Aerospace International Ltd.
1973 c.63 as amended by the Government Trading Act 1990 (c.30). The 1973 Act, as amended, is set out in Schedule 1 to the 1990 Act.
S.I. 2001/1165 as amended by S.I. 2008/628