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”).
The Secretary of State for Defence is hereby designated as the source of issues to the fund by way of loan.
Article 4Assets, liabilities, and public dividend capital#
(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.
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.