Citation and commencement1.
This Order may be cited as the Defence Science and Technology Laboratory Trading Fund Order 2011 and shall come into force on the day after the day on which it is made.
Continuation and extension of the fund2.
(1)
There shall continue to be a trading fund known as the Defence Science and Technology Laboratory Trading Fund (“the fund”).
(2)
As from the date this Order comes into force, the operations of the fund shall be extended.
(3)
The funded operations are set out in Schedule 1.
Authorised Lender3.
The Secretary of State for Defence continues to be designated as the source of issues to the fund by way of loan.
Assets and liabilities of the fund4.
The Crown assets and liabilities set out in Schedule 2 continue to be appropriated as assets and liabilities of the fund.
Public dividend capital5.
The public dividend capital of the fund continues to be £50,400,000.
Maximum borrowing6.
The maximum amount that may be issued to the fund under section 2C of the Government Trading Funds Act 1973 continues to be £100,000,000.
Revocation of Orders7.
The following orders are revoked—
(a)
the Defence Research Agency Trading Fund Order 1993;
(b)
the Defence Evaluation and Research Agency Trading Fund Order 1995;
(c)
the Defence Evaluation and Research Agency Trading Fund (Amendment) Order 1996;
(d)
the Defence Science and Technology Laboratory Trading Fund Order 2001.
Signed by authority for the Secretary of State for Defence
We Concur