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The Driving Standards Agency Trading Fund (Maximum Borrowing) Order 2006

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Statutory Instruments

2006 No. 623

GOVERNMENT TRADING FUNDS

The Driving Standards Agency Trading Fund (Maximum Borrowing) Order 2006

Made

7th March 2006

Laid before Parliament

10th March 2006

Coming into force

1st April 2006

The Secretary of State for Transport makes this Order, with the concurrence of the Treasury, in exercise of the powers conferred by sections 1 and 2C of the Government Trading Funds Act 1973(1).

1.  This Order may be cited as the Driving Standards Agency Trading Fund (Maximum Borrowing) Order 2006 and shall come into force on the 1st. April 2006.

2.  In article 6 of the Driving Standards Agency Trading Fund Order 1997(2) “£70,000,000” shall be substituted for “£30,000,000”.

Signed by authority of the Secretary of State,

Stephen Ladyman

Minister of State

Department for Transport

1st March 2006

We concur

Vernon Coaker/ Dave Watts

Two of the Lords Commissioners of Her Majesty’s Treasury

7th March 2006

Explanatory Note

(This note is not part of the Order)

The Driving Standards Agency Trading Fund was established by the Driving Standards Agency Trading Fund Order 1997 on 1st April 1997.

This Order increases the maximum that that Fund may borrow from £30,000,000 to £70,000,000.

A full Regulatory Impact Assessment has not been produced for this instrument as it has no impact on the costs of business.

(1)

1973 c . 63, as amended by the Government Trading Act 1990 (c. 30). The 1973 Act, as so amended, is set out in Schedule 1 to the 1990 act. The 1973 Act was further amended by section 119 of the Finance Act 1991 (c. 31) and Schedule 22 to the Finance Act 1993 (c. 34).

(2)

S.I. 1997/873.

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