
1 
This Order may be cited as the Defence Aviation Repair Agency Trading Fund Order 2001 and shall come into force on 1st April 2001.
2 
As from 1st April 2001, for all the operations of the Ministry of Defence known as the Defence Aviation Repair 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 Aviation Repair Agency 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) Fifty per cent of the amount by which the values of the assets exceed the amounts of the liabilities shall be treated as public dividend capital of the fund.
5 
The aggregate of the following shall not exceed £300,000,000—
(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 that Act.
Geoffrey Hoon
Secretary of State for Defence
22nd March 2001We concur
David Jamieson
David Clelland
Two of the Lords Commissioners of Her Majesty’s Treasury
23rd March 2001
SCHEDULE 1
Article 2

The operations of the Defence Aviation Repair Agency to be funded by the fund are—
(a) the provision of aviation and other repair support services and associated goods and services to the Ministry of Defence and to other Crown bodies;
(b) the provision of such goods and services to other customers in the United Kingdom and overseas;
(c) operations incidental, conducive or otherwise ancillary to the foregoing.

SCHEDULE 2
Article 4
Land and buildings, as at 1st April 2001, 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 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 2001 in relation to the funded operations.
