1975 No. 501
The Royal Mint Trading Fund Order 1975
Laid before the House of Commons in draft
Made
Coming into Operation
The Chancellor of the Exchequer, in exercise of the powers conferred on him by sections 1 and 2(2) and (3) of the Government Trading Funds Act 1973 and of all other powers enabling him in that behalf, hereby makes the following Order, a draft of which has been laid before the House of Commons and has been approved by a resolution of that House in accordance with section 6(2) of the said Act:—
Citation and commencement1
This Order may be cited as the Royal Mint Trading Fund Order 1975, and shall come into operation on 1st April 1975.
Interpretation2
The Interpretation Act 1889 shall apply for the interpretation of this Order as it applies for the interpretation of an Act of Parliament.
Establishment of the Royal Mint Trading Fund3
As from 1st April 1975 such of the operations of the Crown service known as the Royal Mint as are described in the Schedule to this Order shall be financed by means of a trading fund to be known as the Royal Mint Trading Fund (in this Order referred to as “the trading fund”), instead of by means of annual votes and appropriations.
Public dividend capital4
Such part of the capital of the trading fund as amounts to £7 million shall be public dividend capital ranking as an asset of the Consolidated Fund.
Limitation of total indebtedness5
The total indebtedness of the trading fund to the National Loans Fund in respect of principal (whether indebtedness under section 2(2) or section 2(3) of the Government Trading Funds Act 1973) shall not at any time exceed the originating debt of the trading fund by more than £20 million.
SCHEDULEOPERATIONS OF THE ROYAL MINT TO BE FINANCED BY THE TRADING FUND
The manufacture and supply of coins, medals, seals and similar articles, and any operation incidental or conductive to such manufacture or supply.