The Deregulation (Bills of Exchange) Order 1996

Statutory Instruments

1996 No. 2993

DEREGULATION

The Deregulation (Bills of Exchange) Order 1996

Made

27th November 1996

Coming into force

28th November 1996

Whereas—

(a)

the Treasury are of the opinion that certain provisions of the Bills of Exchange Act 1882(1) and which are the subject of this Order impose burdens affecting persons in the carrying on of a trade, business, profession or otherwise and that by amending or repealing the provisions concerned and by making certain other provision it is possible to remove or reduce the burdens, without removing any necessary protection;

(b)

the Treasury have consulted such organisations as appear to them to be representative of interests substantially affected by their proposals and such other persons as they considered appropriate;

(c)

it appears to the Treasury that it is appropriate, following that consultation, to proceed with the making of this Order;

(d)

a document setting out the Treasury’s proposals has been laid before Parliament as required by section 3 of the Deregulation and Contracting Out Act 1994(2) and the period for Parliamentary consideration under section 4 of that Act has expired;

(e)

the Treasury have had regard to the representations made during that period;

(f)

a draft of this Order has been laid before Parliament with a statement giving details of such representations and the change to the Treasury’s proposals in the light of such representations; and

(g)

a draft of this Order has been approved by resolution of each House of Parliament.

Now, therefore, the Treasury, in exercise of the power conferred on them by section 1 of the Deregulation and Contracting Out Act 1994, hereby make the following Order:

(1)

45 & 46 Vict. c.61.

(2)

1994 c. 40.