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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Royal Mint Trading Fund Order 1975 No. 501 URL: http://www.bailii.org/uk/legis/num_reg/1975/uksi_1975501_en.html |
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Statutory Instruments
GOVERNMENT TRADING FUNDS
Laid before the House of Commons in draft
Made
24th March 1975
Coming into Operation
1st April 1975
The Chancellor of the Exchequer, in exercise of the powers conferred on him by sections 1 and 2(2) and (3) of the Government Trading Funds Act 1973 and of all other powers enabling him in that behalf, hereby makes the following Order, a draft of which has been laid before the House of Commons and has been approved by a resolution of that House in accordance with section 6(2) of the said Act:-
1. This Order may be cited as the Royal Mint Trading Fund Order 1975, and shall come into operation on 1st April 1975.
2. The Interpretation Act 1889 shall apply for the interpretation of this Order as it applies for the interpretation of an Act of Parliament.
3.
4. Such part of the capital of the trading fund as amounts to £7 million shall be public dividend capital ranking as an asset of the Consolidated Fund.
5. The total indebtedness of the trading fund to the National Loans Fund in respect of principal (whether indebtedness under section 2(2) or section 2(3) of the Government Trading Funds Act 1973) shall not at any time exceed the originating debt of the trading fund by more than £20 million.
Denis Healey
Chancellor of the Exchequer
24th March 1975
Article 3
The manufacture and supply of coins, medals, seals and similar articles, and any operation incidental or conductive to such manufacture or supply.
This Order provides for the operations of the Royal Mint to be financed as from 1st April 1975 by means of a trading fund established with public money, instead of by means of annual votes and appropriations. It designates part of the capital of the trading fund as public dividend capital, and imposes a limit on the sums which may be issued to the trading fund out of the National Loans Fund.
