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The Export and Investment Guarantees (Limit on Foreign Currency Commitments) Order 1995
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- UK Statutory Instruments
- 1995 No. 1988
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
Section 6(1)(b) of the Export and Investment Guarantees Act 1991 limits the amount of the aggregate foreign currency commitments of the Secretary of State under arrangements made pursuant to that Act in relation to exports and insurance to 15,000 million special drawing rights. Section 6(4)(a) of that Act allows that limit to be increased by order by a sum not exceeding 5,000 million special drawing rights on not more than three occasions. The limit has not been increased before. This Order increases the limit from 15,000 million special drawing rights to 20,000 million special drawing rights to accommodate prospective future business.
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