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The Queen Elizabeth II Conference Centre Trading Fund (Variation) Order 2021
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Statutory Instruments
2021 No. 666
Government Trading Funds
The Queen Elizabeth II Conference Centre Trading Fund (Variation) Order 2021
Made
4th June 2021
Laid before Parliament
8th June 2021
Coming into force
29th June 2021
The Queen Elizabeth II Conference Centre Trading Fund was established under the Government Trading Funds Act 1973(1) (“the 1973 Act”) by the Queen Elizabeth II Conference Centre Trading Fund Order 1997(2) (“the 1997 Order”) with effect from 1st April 1997.
The Secretary of State for Housing, Communities and Local Government has determined that article 5 of the 1997 Order should be varied so that the maximum borrowing amount specified therein is increased.
The Secretary of State in exercise of powers conferred by sections 1(1), 2C(1) and 6(1) of the 1973 Act, and with the concurrence of the Treasury, makes the following Order.
Citation and commencement
1. This Order may be cited as the Queen Elizabeth II Conference Centre Trading Fund (Variation) Order 2021 and comes into force on 29th June 2021.
Variation
2.—(1) The Queen Elizabeth II Conference Centre Trading Fund Order 1997 is varied in accordance with paragraph (2).
(2) In article 5 of the 1997 Order, for “£2,000,000” substitute “£12,000,000”.
Signed by authority of the Secretary of State for Housing, Communities and Local Government.
Eddie Hughes
Parliamentary Under Secretary of State
Ministry of Housing, Communities and Local Government
2nd June 2021
We concur
James Morris
David Rutley
Two of the Lords Commissioners of Her Majesty’s Treasury
4th June 2021
EXPLANATORY NOTE
(This note is not part of the Order)
This Order increases the maximum amount of money that can be loaned to The Queen Elizabeth II Conference Centre Trading Fund in accordance with the Government Trading Funds Act 1973 (c. 63) from £2,000,000 to £12,000,000.
A full impact assessment has not been published for this instrument as it has no impact on business, charities, voluntary bodies or the public sector.
(1)
1973 c. 63. Sections 1 and 2 were substituted, and section 6 was amended, by the Government Trading Act 1990 (c. 30). Section 2 was amended further by the Finance Act 1991 (c. 31) and the Finance Act 1993 (c. 34).
(2)
S.I. 1997/933. Article 2(2) of, and Schedule 1 to, that Order were amended by the Queen Elizabeth II Conference Centre Trading Fund (Variation) Order 2002 (S.I. 2002/1951). The reference to the Office of the Deputy Prime Minister in article 2(2) of the Order was modified under machinery of Government changes (so it is now a reference to the Ministry of Housing, Communities and Local Government) by article 8(7) of S.I. 2006/1926 and article 10(3) and (5) of S.I. 2018/378.
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