Crown Agents Act 1979

1. Introductory Text

2. The Crown Agents for Oversea Governments and Administrations

   1. 1. Reconstitution of Crown Agents as body corporate.

   2. 2. Vesting in Crown Agents of property, rights and liabilities.

   3. 3. General functions of Crown Agents.

   4. 4. Authorised agency activities.

   5. 5. Authorised non-agency activities.

   6. 6. Ancillary powers.

   7. 7. Duty to act as agents of certain governments etc. on request.

   8. 8. Pre-funding of agency activities.

   9. 9. Duties with respect to management of activities.

   10. 10. Power of Minister to obtain information from Crown Agents.

   11. 11. Annual reports.

   12. 12. Control by Crown Agents of subsidiaries.

3. Financial provisions

   1. 13. General financial duties of Crown Agents.

   2. 14. Directions by Minister as to reserves of Crown Agents and their wholly owned subsidiaries.

   3. 15. Management of liquid assets of Crown Agents and their wholly owned subsidiaries.

   4. 16. Payments to Minister.

   5. 17. Crown Agents’ commencing capital debt.

   6. 18. Borrowing powers of Crown Agents and their wholly owned subsidiaries.

   7. 19. Limit on certain liabilities of Crown Agents and their subsidiaries.

   8. 20. Grants and loans by Minister.

   9. 21. Treasury guarantees.

   10. 22. Accounts and audit.

   11. 23. Power of Minister to give directions with respect to financial matters.

   12. 24. Duty to insure against insurable financial risks.

4. The Crown Agents Holding and Realisation Board

   1. 25. The Crown Agents Holding and Realisation Board.

   2. 26. Position with respect to recoverable grants paid to unincorporated Agents.

5. Miscellaneous and general

   1. 27. Exemptions.

   2. 28. Provisions as to revenue of, and alienations by, former Agents.

   3. 29. Administrative expenses.

   4. 30. Orders, regulations and consents.

   5. 31. Interpretation.

   6. 32. Consequential amendments, transitional provisions and repeals.

   7. 33. Citation and extent.

6. SCHEDULES

   1. SCHEDULE 1

      Supplementary Provisions as to Constitution Etc. of Crown Agents

      1. Appointment and tenure of members

         1. 1. It shall be the duty of the Minister—

         2. 2. Subject to the following provisions of this Schedule, a person...

         3. 3. A person may at any time resign his office as...

         4. 4. Where a member becomes or ceases to be the chairman...

         5. 5. If the chairman or deputy chairman ceases to be a...

         6. 6. (1) If the Minister is satisfied that a member—

      2. Remuneration etc. of members

         1. 7. The Crown Agents shall pay to each of their members...

         2. 8. (1) If the Minister so determines in the case of...

      3. Disqualification of members of Crown Agents for House of Commons and Northern Ireland Assembly

         1. 9. As from the appointed day the references to the Crown...

      4. Proceedings

         1. 10. The quorum of the Crown Agents and the arrangements relating...

         2. 11. (1) A member who is in any way directly or...

         3. 12. The validity of any proceedings of the Crown Agents shall...

      5. Staff

         1. 13. (1) The Crown Agents may appoint, on such terms and...

         2. 14. (1) The Crown Agents may pay such pensions as they...

         3. 15. (1) Except so far as they are satisfied that adequate...

      6. Performance of functions

         1. 16. The Crown Agents may authorise any member or employee of...

      7. Instruments and contracts

         1. 17. The fixing of the common seal of the Crown Agents...

         2. 18. (1) A document purporting to be duly executed under the...

   2. SCHEDULE 2

      Supplementary Provisions as to Vesting of Property Etc.

      1. 1. In this Schedule “the former Agents” means the persons who...

      2. 2. Every agreement to which the former Agents or any of...

      3. 3. (1) Every agreement, whether in writing or not, and every...

      4. 4. Without prejudice to the generality of paragraphs 2 and 3,...

      5. 5. Without prejudice to the generality of paragraphs 2 and 3,...

      6. 6. (1) If any question arises whether any particular item of...

   3. SCHEDULE 3

      Scheduled Authorities and Bodies

      1. Part I Descriptions of Authorities and Bodies for whom Crown Agents can Act as Agents

         1. 1. The government of any colony or associated state or of...

         2. 2. The government of any other country or territory outside the...

         3. 3. Any department of the Government of the United Kingdom or...

         4. 4. Any organisation whose members consist of or include two or...

         5. 5. Any non-profit-making authority or body of an international character established...

         6. 6. Any public authority or public body established under the law...

         7. 7. Any organisation or body established for charitable purposes.

         8. 8. Any body corporate the whole of whose issued share capital...

         9. 9. Any body corporate for the time being approved by the...

         10. 10. The trustees of any pension fund maintained by any authority...

         11. 11. Any body corporate for the time being approved by the...

      2. Part II Supplementary

         1. 1. If any question arises whether a particular authority or body...

         2. 2. A determination by the Minister under the preceding paragraph—

   4. SCHEDULE 4

      Authorised Agency Activities

      1. 1. Procuring movable property of any kind.

      2. 2. Making arrangements for and in connection with the conveyance of...

      3. 3. Obtaining professional advice on projects, and negotiating and making contracts...

      4. 4. Acquiring and disposing of land, doing anything in connection with...

      5. 5. Negotiating and making contracts for the design, production or supply...

      6. 6. Selling coins, medallions, currency notes and postage stamps to dealers....

      7. 7. Recruiting staff.

      8. 8. Making travel and other arrangements for staff and other persons....

      9. 9. Paying remuneration, allowances, expenses and pensions.

      10. 10. Accepting funds for investment of behalf of the principal and...

      11. 11. Making or receiving payments in accordance with standing or other...

      12. 12. Managing operations relating to the raising and servicing of loans....

      13. 13. Administering and managing the provision or utilisation of financial, technical...

      14. 14. Negotiating and making contracts for the assembly, installation, commissioning or...

   5. SCHEDULE 5

      Provisions Relating to Crown Agents Holding and Realisation Board

      1. Absence of members from Board meetings

         1. 1. The power of the Minister to declare vacant the office...

      2. Payment of allowances to members.

         1. 2. The Board shall pay to each of their members such...

      3. Proceedings

         1. 3. Paragraphs 10 to 12 of Schedule 1 shall apply to...

      4. Performance of functions

         1. 4. The Board may authorise any member of the Board or...

      5. Instruments and contracts

         1. 5. The fixing of the common seal of the Board shall...

         2. 6. Paragraph 18 of Schedule 1 shall apply in relation to...

      6. Vesting in Board or property, rights and liabilities

         1. 7. (1) On the appointed day there shall by virtue of...

      7. Ancillary powers

         1. 8. (1) Subject to the provisions of this paragraph, the Board...

      8. Duties with respect to management of activities

         1. 9. Section 9 shall apply to the Board as it applies...

      9. Power of Minister to obtain information from Board

         1. 10. Section 10 shall apply to the Board as it applies...

      10. Annual reports

          1. 11. Section 11 shall apply to the Board as it applies...

      11. Control by Board of subsidiaries

          1. 12. (1) Subject to sub-paragraph (2), section 12 shall apply in...

      12. Management of liquid assets of Board and their subsidiaries

          1. 13. Any money for the time being standing to the credit...

      13. Application of surplus revenue of Board

          1. 14. (1) If for any accounting year there is an excess...

      14. Borrowing by the Board and their subsidiaries

          1. 15. (1) Subject to paragraph 16, the Board may borrow money...

      15. Limit on indebtedness of Board and their subsidiaries

          1. 16. (1) The aggregate of the following amounts, namely—

      16. Grants and loans by Minister

          1. 17. Section 20 shall apply to the Board as it applies...

      17. Treasury guarantees

          1. 18. (1) The Treasury may on or after the appointed day...

          2. 19. Section 21 shall apply in relation to the Board as...

      18. Accounts and audit

          1. 20. (1) Subsections (1) to (4) of section 22 shall apply...

      19. Power of Minister to give instructions

          1. 21. (1) Without prejudice to any other power conferred on the...

      20. Duty to insure against insurable financial risks

          1. 22. It shall be the duty of the Board to secure,...

      21. Dissolution of Board

          1. 23. (1) If at any time it appears to the Minister...

          2. 24. (1) If the prescribed day is not the 1st January,...

   6. SCHEDULE 6

      Consequential Amendments and Transitional Provisions

      1. Part I CONSEQUENTIAL AMENDMENTS

         1. Public Records Act 1958(c. 51)

      2. Part II Transitional Provisions

         1. Final accounts of unincorporated Agents

            1. 1. (1) If by the appointed day— (a) the unincorporated Agents...

            2. 2. (1) If— (a) on the appointed day the circumstances are...

            3. 3. Without prejudice to section 30(1)(c), an order under section 31(2)...

         2. Final report on affairs of unincorporated Agents

            1. 4. (1) If by the appointed day the unincorporated Agents have...

   7. SCHEDULE 7

      REPEALS.