
1 
This Order may be cited as the Registers of Scotland Executive Agency Trading Fund Order 1996 and shall come into force on 1st April 1996.
2 

(1) As from 1st April 1996, for all the operations of the Department of the Registers of Scotland, now known as the Registers of Scotland Executive Agency, which operations are more particularly described in Schedule 1 to this Order, (“the funded operations”), there shall be established a trading fund to be known as the Registers of Scotland Executive Agency Trading Fund (“the fund”).
(2) The fund shall be under the control and management of the Keeper of the Registers of Scotland.
3 
The National Loans Fund 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) 40% of the amount by which the values of the said assets exceed the values of the said liabilities shall be treated as public dividend capital of the fund.
5 
The aggregate of—
(a) the total outstanding at any given time in respect of amounts issued to the fund under section 2B of the 1973 Act (other than as originating debt), and
(b) the total at that time constituting public dividend capital issued to the fund under section 2A(2A) of the 1973 Act,shall not exceed the sum of £40,000,000.
Michael B Forsyth
Secretary of State for Scotland
25th March 1996We concur,
Simon Burns
Michael Bates
Two of the Lords Commissioners of Her Majesty’s Treasury
28th March 1996
SCHEDULE 1
Article 2

(1) The whole business of managing, maintaining and controlling the Scottish public registers relating to land and other registers, including the provision of information to the public from such registers, in accordance with the functions conferred upon the Keeper of the Registers of Scotland by the Public Registers and Records (Scotland) Act 1948 and the Land (Registration) Scotland Act 1979.
(2) Without prejudice to the foregoing, the performance by the Keeper and any other officers of the Registers of Scotland of any function conferred on them by law as at 1st April 1996.
(3) Operations incidental, conducive or otherwise ancillary to the foregoing.
SCHEDULE 2
Article 4

 Land and buildings used or allocated for use by the Keeper of the Registers of Scotland in the funded operations.
 Plant, equipment and stock.
 Computer hardware and software.
 Current assets used or allocated for use in or arising from the funded operations.

 Creditors and accruals in relation to the funded operations.
 Provisions for work in progress, early retirals, and indemnities pertaining to the funded operations.