
1 
This Order may be cited as the Meteorological Office Trading Fund Order 1996 and shall come into force on 1st April 1996.
2 
As from 1st April 1996, for all the operations of the Ministry of Defence known as the Meteorological Office, which operations are more particularly described in Schedule 1 to this Order, there shall be established a trading fund to be known as the Meteorological Office Trading Fund (hereinafter referred to as “the fund”).
3 
The Secretary of State for Defence 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) 81% of the amount by which the values of the assets of the fund exceed the amounts of its liabilities shall be treated as public dividend capital of the fund.
5 
The aggregate of the following shall not exceed £200,000,000—
(a) the total outstanding at any given time in respect of amounts issued to the fund under section 2B of the Trading Funds Act 1973 (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 that Act.
Michael Portillo
Secretary of State for Defence
6th March 1996We concur
Simon Burns
Bowen Wells
Two of the Lords Commissioners of Her Majesty’s Treasury
8th March 1996
SCHEDULE 1
Article 2

The operations of the Meteorological Office to be funded by the fund are:—
(a) the provision of meteorological, climatological and associated services to the Ministry of Defence;
(b) the provision of such services to other customers; and
(c) operations incidental, conducive or otherwise ancillary to the foregoing.

SCHEDULE 2
Article 4
Land and buildings, as at 1st April 1996, used or allocated for use in the funded operations.

Plant, facilities, equipment, machinery, vehicles, fixtures, fittings, 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 and accruals as at 1st April 1996 in relation to the funded operations.
