The Central Office of Information Trading Fund (Variation) Order 1992

Explanatory Note

(This note is not part of the Order)

The Central Office of Information (“COI”) Trading Fund was established under the Government Trading Fund Act 1973 (“the 1973 Act”) with effect from 1 April 1991. At the time of establishment a final valuation of the assets and the liabilities as at 1 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 Central Office of Information Trading Fund Order 1991 (“the 1991 Order”) by substituting correct values for the assets and correct amounts for the liabilities so appropriated for the values and amounts specified in Schedule 2 to the 1991 order (article 2(b)).

The Order also appropriates to the fund an additional Crown asset and liability which the Chancellor of the Exchequer has determined were properly attributable to the funded operations and suitable to be appropriated to the fund. The asset is money provided by Parliament to the COI in respect of accruals and deferred income attributable to the Fund as at 1 April 1991 but not appropriated to the fund at that date. The liability is an equal amount of accruals and deferred income attributable to the fund as at 1 April 1991 but also not appropriated to the fund at that date.