The Fire Service College Trading Fund Order 1992

Citation and Commencement

1.  This Order may be cited as the Fire Service College Trading Fund Order 1992 and shall come into force on 1st April 1992.

Establishment of the Fund

2.  A trading fund for the operations of the Fire Service College under section 23 of the Fire Services Act 1947 shall be established as from 1st April 1992.

Source of loans

3.  The Secretary of State for the Home Department is hereby designated as the source of issues to the fund by way of loan.

Assets, liabilities and public dividend capital

4.—(1) The Crown assets and liabilities set out in the Schedule to this Order shall be appropriated as assets and liabilities of the fund.

(2) 53·3% of the amount by which the values of the said assets exceed the amounts of the said liabilities shall be treated as public dividend capital.

Limitation of indebtedness

5.  The maximum amount that may be issued to the fund by way of loan under section 2B of the 1973 Act shall be £15,000,000.