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Statutory Instruments
1992 No. 471
GOVERNMENT TRADING FUNDS
The Vehicle Inspectorate Trading Fund (Variation) Order 1992
Made
4th March 1992
Laid before Parliament
10th March 1992
Coming into force
1st April 1992
Whereas:
(1) a trading fund was established under the Government Trading Funds Act 1973(1) by the Vehicle Inspectorate Trading Fund Order 1991(2)("the principal order") with effect from the 1st April 1991;
(2) the Crown assets and liabilities described in general terms in Schedule 2 to the principal order were appropriated as assets and liabilities of the fund at the values and amounts specified in that Schedule;
(3) a valuation of those assets and liabilities as at the 1st April 1991 which was carried out subsequently to that date necessitates the variation of the values and amounts specified in Schedule 2 to the principal order:
NOW THEREFORE the Secretary of State for Transport, in exercise of the powers conferred on him by section 1, 2(7) and 6(1) of the Government Trading Fund Act 1973 and all other enabling powers, with the concurrence of the Treasury, hereby makes the following Order:-
1. This Order may be cited as the Vehicle Inspectorate Trading Fund (Variation) Order 1992 and shall come into force on 1st April 1992.
2. The Vehicle Inspectorate Trading Fund Order 1991 shall be varied by substituting for Schedule 2 to that Order the Schedule set out in the Schedule to this Order.
Malcolm Rifkind
Secretary of State for Transport
27th February 1992
We concur
Irvine Patnick
Nicholas Baker
Two of the Lord's Commissioners of Her Majesty's Treasury
4th March 1992
Article 2
THE SCHEDULE
Article 5
"SCHEDULE 2ASSETS AND LIABILITIES
| ASSETS | £M |
|---|---|
| Freehold land | 13.1 |
| Freehold buildings | 11.5 |
| Leaseholds | 5.5 |
| Plant and equipment | 2.1 |
| Computer hardware and software | 4.1 |
| -- | |
| 36.3 | |
| LIABILITIES | |
| Fees paid in advance | 3.0 |
| NET ASSETS | 33.3" |
Explanatory Note
(This note is not part of the Order)
The Vehicle Inspectorate Trading Fund was established under the Government Trading Fund Act 1973 with effect from the 1st April 1991. At the time of establishment a final valuation of the assets and liabilities as at 1st April 1991 appropriated to the fund by the Order had not been carried out. As a consequence of the subsequent final valuation this Order varies the Vehicle Inspectorate Trading Fund Order 1991 by substituting corrected values for the assets and liabilities so appropriated for the values and amounts specified in Schedule 2 to the 1991 Order.
1973 c. 63. The 1973 Act was amended by the Government Trading Act 1990 (c. 30) and the 1973 Act as so amended is set out in Schedule 1 to the 1990 Act. Section 2 was further amended by section 119 of the Finance Act 1991 (c. 31).
S.I. 1991/773.