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Statutory Instruments
1993 No. 799
LIBRARIES
The Public Lending Right (Increase of Limit) Order 1993
Made
15th March 1993
Coming into force
1st April 1993
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 1979(1) and has been approved by a resolution of that House:
Now, therefore, the Secretary of State, in exercise of the powers conferred by the said section 2(3) and now vested in him(2), and with the consent of the Treasury, hereby makes the following Order:-
1. This Order may be cited as the Public Lending Right (Increase of Limit) Order 1993 and shall come into force on 1st April 1993.
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, in respect of any financial year beginning after 31st March 1993, be increased to £5 million less the total of any sums paid in that year, out of money so provided, under paragraph 2 of the Schedule to that Act (pay, pension, etc. of Registrar).
Peter Brooke
Secretary of State for National Heritage
12th March 1993
Tim Wood
Irvine Patnick
Two of the Lords Commissioners of Her Majesty's Treasury
15th March 1993
Explanatory Note
(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 liabilities of the Fund in respect of the public lending right in any one financial year. The limit was raised by the Public Lending Right (Increase of Limit) Order 1991 (S.I. 1991/858) in respect of any financial year beginning after 31st March 1991 to £4.75 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 £4.75 million to £5 million with effect from the beginning of the 1993/94 financial year.