Citation and commencement

1. This Order may be cited as the Defence Science and Technology Laboratory Trading Fund Order 2011 and shall come into force on the day after the day on which it is made.

Continuation and extension of the fund

2.-(1) There shall continue to be a trading fund known as the Defence Science and Technology Laboratory Trading Fund ("the fund").

(2) As from the date this Order comes into force, the operations of the fund shall be extended.

(3) The funded operations are set out in Schedule 1.

Authorised Lender

3. The Secretary of State for Defence continues to be designated as the source of issues to the fund by way of loan.

Assets and liabilities of the fund

4. The Crown assets and liabilities set out in Schedule 2 continue to be appropriated as assets and liabilities of the fund.

Public dividend capital

5. The public dividend capital of the fund continues to be £50,400,000.

Maximum borrowing

6. The maximum amount that may be issued to the fund under section 2C of the Government Trading Funds Act 1973 continues to be £100,000,000.

Revocation of Orders

7. The following orders are revoked-

(a)the Defence Research Agency Trading Fund Order 1993;

(b)the Defence Evaluation and Research Agency Trading Fund Order 1995;

(c)the Defence Evaluation and Research Agency Trading Fund (Amendment) Order 1996;

(d)the Defence Science and Technology Laboratory Trading Fund Order 2001.

Article 2(3)

SCHEDULE 1Funded operations

The operations of the Defence Science and Technology Laboratory Trading Fund to be funded by the fund are-

(a)the provision of scientific and technical services and support and associated goods to the Ministry of Defence;

(b)the provision of such services, support and goods to other customers in the United Kingdom and overseas;

(c)operations incidental, conducive or otherwise ancillary to the foregoing.

Article 4

SCHEDULE 2Assets and liabilities that continue to be appropriated to the fund

PART 1Assets

Land and buildings, as at the date this Order comes into force, used or allocated for use in the funded operations;

Plant, facilities machinery, fixtures, fittings, vehicles, equipment and computer hardware and software, as at that date, used or allocated for use in the funded operations;

Intangible assets arising from the funded operations carried on as at that date;

Current assets, as at that date, used or allocated for use in or arising from the funded operations.

PART 2Liabilities

Creditors, accruals, deferred income and provisions, as at the date this Order comes into force, in relation to the funded operations.

EXPLANATORY NOTE

(This note is not part of the Order)

This Order, which comes into force on the day after the Order is made, provides for the continuation and extension, from that date, of a trading fund established under section 1 of the Government Trading Funds Act 1973 and known since 1st July 2001 as the Defence Science and Technology Laboratory Trading Fund ("DSTL").

The fund was established on 1st April 1993 and known as the Defence Research Agency Trading Fund. The funded operations were extended in 1995 and the fund renamed as the Defence Evaluation and Research Agency Trading Fund. Certain operations were then removed from the fund in 1996 and again in 2001 when the fund was renamed as DSTL.

Article 2 and Schedule 1 set out the funded operations. The description of the funded operations set out in that Schedule covers both the continuing operations and the additional operations.

Article 3 provides that the Secretary of State for Defence continues as the authorised lender to the fund.

Article 4 and Schedule 2 set out the assets and liabilities which continue to be appropriated to the fund. No assets or liabilities are attributable to the extended operations.

Article 5 sets out the public dividend capital of the fund.

Article 6 sets out the maximum amount that may be borrowed by the fund, which continues to be £100,000,000.

Article 7 revokes the 1993, 1995, 1996 and 2001 Orders.