
1 
This Order may be cited as the Defence Research Agency Trading Fund Order 1993 and shall come into force on 1st April 1993.
2 
As from 1st April 1993, for all the operations of the Ministry of Defence known as the Defence Research Agency, which operations are more particularly described in Schedule 1 to this Order, there shall be established a trading fund to be known as the Defence Research Agency Trading Fund (hereinafter referred to as “the fund”).
3 
The Secretary of State is hereby designated as the source of issues to the fund by way of loan.
4 

(1) The Crown assets and liabilities set out in Schedule 2 to this Order shall be appropriated as assets and liabilities of the fund.
(2) 89.6% of the amount by which the values of the assets set out in Schedule 2 exceed the amounts of the liabilities so set out, shall be treated as public dividend capital of the fund.
5 
The maximum amount that may be issued to the fund by way of loan under Section 2B of the 1973 Act shall be £400,000,000.
Malcom Rifkind
Secretary of State for Defence
11th February 1993We concur
Timothy Wood
Nicholas Baker
Two of the Lords Commissioners of Her Majesty’s Treasury
16th February 1993
SCHEDULE 1
Article 2

The operations of the Defence Research Agency to be funded by the fund are:—
(a) The provision of scientific and technical services and support to the Ministry of Defence,
(b) The provision of such services and support to other customers, and
(c) Operations incidental, conducive or otherwise ancillary to the foregoing.

SCHEDULE 2
Article 4

 Freehold land and buildings, as at 1st April 1993, used or allocated for use in the funded operations.
 Plant, facilities, machinery, fixtures, fittings, 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 as carried on up to that date.
 Current assets as at that date used or allocated for use in, or arising from, the funded operations.


 Creditors as at 1st April 1993 in relation to the funded operations.
