The Welsh Development Agency (Financial Limit) Order 2000

Welsh Statutory Instruments

2000 No. 1147 (W.82)

ECONOMIC DEVELOPMENT, WALES

The Welsh Development Agency (Financial Limit) Order 2000

Made

6th April 2000

Coming into force

12th April 2000

The National Assembly for Wales makes the following Order in exercise of the power conferred on the Secretary of State by section 18(3) of the Welsh Development Agency Act 1975(1), which is now vested in it(2):

Citation and commencement

1.  This Order may be cited as the Welsh Development Agency (Financial Limit) Order 2000 and shall come into force on 12th April 2000.

Increase in financial limit

2.  For the purposes of section 18(3) of the Welsh Development Agency Act 1975 (finances of the Agency) the limit is specified as £2,000 million.

Signed on behalf of the National Assembly for Wales under section 66(1) of the Government of Wales Act 1998(3).

D.Elis Thomas

The Presiding Officer of the National Assembly

6th April 2000

Explanatory Note

(This note does not form part of the Order)

The Welsh Development Agency is an executive Assembly Sponsored Public Body which was established by the Welsh Development Agency Act 1975 for the purposes of furthering the economic and social development of Wales, promoting efficiency in business and international competitiveness in Wales and furthering the improvement of the environment in Wales.

Subsection 18(3) of the 1975 Act specifies the Agency’s financial limit and provides for that limit to be increased by order. This Order increases the limit from £1,350 million to £2,000 million.

(1)

1975 (c. 70); section 18 was amended by section 1 of the Industry Act 1979 (c. 32), by sections 5(1) and 21 of and Schedule 2 to the Industry Act 1980 (c. 33), and by section 1 of the Welsh Development Agency Act 1997 (c. 37).

(2)

See the National Assembly for Wales (Transfer of Functions) Order 1999 (S.I. 1999/672).

(3)

1998 (c. 38).