Citation, commencement and extent

article 1 + 1.—(1)  This Order may be cited as the Royal Mint Trading Fund (Extension and Variation) (Amendment) Order 2024 and comes into force on 26th November 2024.

(2)  This Order extends to England and Wales, Scotland and Northern Ireland.

Variation

article 2 + 2.—(1 ) The Royal Mint Trading Fund (Extension and Variation) Order 2002(2) is amended as follows.

(2 ) In article 4 (limitation of total indebtedness), for “£50 million” substitute “£105 million”.

Explanatory Note

(This note is not part of the Order)

The Royal Mint Trading Fund was established under the Government Trading Funds Act 1973 (c. 63) (“the 1973 Act”) by the Royal Mint Trading Fund Order 1975 (S.I. 1975/501). The Royal Mint Trading Fund (Extension and Variation) Order 2002 extended the funded operations of the Royal Mint Trading Fund, appropriated additional assets and liabilities to the Royal Mint Trading Fund, and increased the limitation on the Royal Mint Trading Fund’s total indebtedness.

This Order increases the maximum amount of money that can be loaned to the Royal Mint Trading Fund in accordance with the 1973 Act from £50,000,000 to £105,000,000.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.