1 Citation and commencement

This Order may be cited as the Vehicle and Operator Services Agency Trading Fund (Maximum Borrowing) Order 2007 and shall come into force on the 31st of March 2007.

NOTES
Initial Commencement
Specified date

Specified date: 31 March 2007: see above.

2 Amendment of maximum borrowing limit

2Amendment of maximum borrowing limit

In article 6 of the Vehicle Inspectorate Trading Fund Order 1991 “£150,000,000” shall be substituted for “£70,000,000”.

NOTES
Initial Commencement
Specified date

Specified date: 31 March 2007: see art 1.

Signature

Signed by authority of the Secretary of State

SJ Ladyman

Minister of State for Transport

Department for Transport

6th February 2007

We concur

K Brennan

Alan Campbell

Two of the Lords Commissioners of Her Majesty's Treasury

19th February 2007

EXPLANATORY NOTE

EXPLANATORY NOTE (This note is not part of the Order)

This Order increases the maximum that the Vehicle and Operator Services Agency Fund may borrow from £70,000,000 to £150,000,000.

A Regulatory Impact Assessment has not been produced for this instrument because it has no impact on the cost of business.

The Vehicle and Operator Services Agency Trading Fund was originally established as the Vehicle Inspectorate Trading Fund (“the VI Fund”) by the Vehicle Inspectorate Trading Fund Order 1991 (SI 1991/773) with effect from 1st April 1991.

Under the Vehicle and Operator Services Agency Trading Fund Order 2003 (SI 2003/942) the range of operations covered by the VI Fund was extended and the extended fund was renamed as the Vehicle and Operator Services Agency Fund.