The Public Lending Right (Increase of Limit) Order 2003

Made20 March 2003

Coming into force1 April 2003

Whereas a draft of this Order has been laid before the House of Commons in accordance with section 2(3) of the Public Lending Right Act 19791 and has been approved by a resolution of that House:

Now, therefore, the Secretary of State, in exercise of the powers conferred by section 2(3) and now vested in her 2, and with the consent of the Treasury, makes the following Order:–

1.

This Order may be cited as the Public Lending Right (Increase of Limit) Order 2003 and shall come into force on 1st April 2003.

2.

The limit on the sums to be paid under section 2(2) of the Public Lending Right Act 1979, out of money provided by Parliament into the Central Fund to satisfy the liabilities of any one financial year of the Fund, shall be increased to–

(a)

£14.252 million in respect of the financial year beginning on the day this Order comes into force; and

(b)

£8 million in respect of financial years thereafter,

and, in each case, that limit shall be less the total of any sums paid in that year, out of money so provided, under paragraph 2 of the Schedule to the Public Lending Right Act 1979 (pay, pension, etc. of Registrar).

Tessa Blackstone

Minister for the Arts,

Department for Culture, Media and Sport

17^th March 2003

Jim Fitzpatrick

John Heppell

Two of the Lords Commissioners of Her Majesty’s Treasury

20^th March 2003

(This note is not part of the Order)

Section 2(2) of the Public Lending Right Act 1979 limits the sums which are to be paid into the Central Fund out of money provided by Parliament for the purpose of satisfying the liabilities of the Fund in respect of public lending right in any one financial year. The limit was last raised by the Public Lending Right (Increase of Limit) Order 1999 (S.I. 1999/905), in respect of any financial year beginning after 31^st March 1999, to £5.5 million less the total of any sums paid in that year out of money provided by Parliament in respect of the pay, pension, etc. of the Registrar of Public Lending Right. This Order further increases the figure of £5.5 million to £14.252 million for the financial year 2003/2004 and to £8 million for subsequent financial years.