The Statistics of Trade Act 1947 (Amendment of Schedule) Order 1987

Statutory Instruments

1987 No. 669

STATISTICS OF TRADE

The Statistics of Trade Act 1947 (Amendment of Schedule) Order 1987

Made

7th April 1987

Coming into force

8th April 1987

At the Court at Windsor Castle, the 7th day of April 1987

Present,

The Queen’s Most Excellent Majesty in Council

Whereas by section 5 of the Statistics of Trade Act 1947(1) Her Majesty may by Order in Council amend the Schedule to the said Act by adding to the matters specified therein any other matter:

And whereas a draft of this Order has been laid before Parliament in accordance with the provisions of section 5(3) of the said Act and an address has been presented to Her Majesty by each House of Parliament praying that the Order be made:

Now, therefore, Her Majesty, in pursuance of the powers conferred upon Her by section 5 of the said Act, is pleased, by and with the advice of Her Privy Council, to order and it is hereby ordered as follows:—

1.  The Schedule to the Statistics of Trade Act 1947 (which specifies the matters about which a person may be required to furnish estimates or returns under the Act)(2) shall be amended so far as it applies, under section 1 of the Act, to inquiries by competent authorities (3) concerning the United Kingdom balance of payments, by adding to the matters specified therein the matters specified in the Schedule to this Order.

2.  This Order may be cited as the Statistics of Trade Act 1947 (Amendment of Schedule) Order 1987 and shall come into force on the day after it is made.

G. I. de Deney

Clerk of the Privy Council

Article 1

SCHEDULE ADDITIONAL MATTERS ABOUT WHICH PERSONS MAY BE REQUIRED TO FURNISH ESTIMATES OR RETURNS UNDER THE STATISTICS OF TRADE ACT 1947 IN RESPECT OF INQUIRIES UNDER SECTION 1 OF THE ACT CONCERNING THE UNITED KINGDOM BALANCE OF PAYMENTS

In a case where the undertaking is related to a body situated outside the United Kingdom:—

• the nature and extent of the relationship;

• the nature and extent (and any changes therein) of the financial interest of the one body in the other;

• the country in which the related body is situated;

• particulars in respect of issued share capital, minority shareholders' interests, loans, reserves and provisions as recorded in the accounts of the undertaking or such particulars in respect of the related body where it is under the control of the undertaking;

• net gains or losses of the undertaking attributable to changes in exchange rates, being gains or losses arising out of the relationship;

• the profit or loss of the undertaking or related body attributable to the relationship and dividends declared by either body arising out of the relationship;

• where the undertaking is not a company incorporated in the United Kingdom, its net value to the related body, and where the related body is not a body corporate, its net value to the undertaking.

Explanatory Note

(This note is not part of the Order)

This Order amends the Schedule to the Statistics of Trade Act 1947, which contains the matters about which persons carrying on undertakings may be required to furnish estimates or returns under the Act. It adds matters to the Schedule about which persons carrying out undertakings related to bodies outside the United Kingdom are required to furnish estimates or returns in respect of inquiries under section 1 of that Act concerning the United Kingdom balance of payments.

(1)

1947 c. 39.

(2)

The Schedule was amended by S.I. 1963/1329.

(3)

See section 17(3) of the Act and S.I. 1971/719 (art. 3(2)) and section 4(1) of the Employment and Training Act 1973 (c. 50).