2019 No. 927

Government Trading Funds

The Meteorological Office Trading Fund (Maximum Borrowing) Order 2019

Made

Laid before Parliament

Coming into force

The Secretary of State, with the concurrence of the Treasury, makes the following Order, in exercise of the powers conferred by sections 1 and 2C of the Government Trading Funds Act 19731.

Citation and commencement1

This Order may be cited as the Meteorological Office Trading Fund (Maximum Borrowing) Order 2019 and come into force on 5th June 2019.

Amendment of maximum borrowing limit2

In article 5 of the Meteorological Office Trading Fund Order 19962 for “£200,000,000”, substitute “£300,000,000”.

Chris SkidmoreParliamentary Under Secretary of StateDepartment for Business, Energy and Industrial Strategy

We concur

Mike FreerPaul MaynardTwo of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE

(This note is not part of the Order)

The Meteorological Office Trading Fund was established by the Meteorological Office Trading Fund Order 1996 on 1st April 1996.

This Order increases the maximum that the Meteorological Office Trading Fund may borrow from £200,000,000 to £300,000,000.

An Impact Assessment has not been produced for this instrument because it has no impact on business, charities or voluntary bodies.