Trading fund
A trading fund is a UK executive agency, government department or part of a department, which has been established as such by means of a Trading Fund Order made under the Government Trading Funds Act 1973.
A trading fund can only be established with HM Treasury agreement. One may only be set up where more than 50% of the trading fund's revenue will consist of receipts in respect of goods and services provided by the trading fund, and where the responsible Minister and the Treasury are satisfied that the setting up of the trading fund will lead to "improved efficiency and effectiveness in management of operations".[1]
The significance of a trading fund is that it has standing authority under the 1973 Act to use its receipts to meet its outgoings. Some trading funds have, as their main function, the collection and supply of information to both public and private sectors; others do not.
Contents |
[edit] List of trading funds
[edit] United Kingdom
Date of establishment as Trading Fund is shown:
[edit] Current
- Central Office of Information (COI) - 1 April 1991
- Companies House - 1 October 1991
- Defence Science and Technology Laboratory (Dstl) - 1 July 2001
- Defence Support Group (DSG) - 1 April 2008
- Driver and Vehicle Licensing Agency (DVLA) - 1 April 2004
- Driving Standards Agency (DSA) - 1 April 1997
- FCO Services - 1 April 2008
- Fire Service College - 1 April 1992
- Government Procurement Service - 1 April 1991 (first known as the Buying Agency, then OGCbuying.solutions, then Buying Solutions)
- HM Land Registry - 1 April 1993
- Intellectual Property Office - 1 October 1991 (first known as the Patent Office)
- Medicines and Healthcare products Regulatory Agency (MHRA) - 1 April 2003
- Meteorological Office - 1 April 1996
- Ordnance Survey - 1 April 1999
- Queen Elizabeth II Conference Centre - 1 April 1997
- Registers of Scotland - 1 April 1996 (ownership passed to the Scottish Government on 1 July 1999)
- Royal Mint - 1 April 1975 (became holding entity of Royal Mint Ltd on 31 December 2009)
- United Kingdom Hydrographic Office (UKHO) - 1 April 1996
- Vehicle and Operator Services Agency (VOSA) - 1 April 2003
[edit] Defunct
- Army Base Repair Organisation (ABRO) - 1 April 2002 (merged with DARA to form DSG on 1 April 2008)
- Chessington Computer Centre - 1 April 1993 (privatised in July 1996)
- Defence Aviation Repair Agency (DARA) - 1 April 2001 (merged with ABRO to form DSG on 1 April 2008)
- Defence Evaluation and Research Agency (DERA) - 1 April 1995 (split into Dstl and Qinetiq on 1 July 2001)
- Defence Research Agency (DRA) - 1 April 1993 (became part of DERA on 1 April 1995)
- Forensic Science Service - 1 April 1999 (became government-owned company in December 2005)
- HM Stationery Office (HMSO) - 1 April 1980 (privatised as The Stationery Office in September 1996)
- Medicines Control Agency - 1 April 1993 (merged with Medical Devices Agency to form MHRA on 1 April 2003)
- NHS Estates - 1 April 1999 (abolished in September 2005)
- Vehicle Inspectorate - 1 April 1991 (merged with Traffic Area Network to form VOSA on 1 April 2003)
[edit] Hong Kong
- Hongkong Post (Royal Hongkong Post)
- Electrical and Mechanical Services Department
- Office of the Telecommunications Authority (OFTA)
- Companies Registry
- The Land Registry
- Sewage Services Trading Fund (1994–1997)
