The Welsh Development Agency (Financial Limit) Order 2004

Made: 14 July 2004

Coming into force: 1 August 2004

The National Assembly for Wales makes the following Order in exercise of the power conferred on the Secretary of State by section 18(3) of the Welsh Development Agency Act 1975[^f00001], which is now vested in it[^f00002]:

Name and commencement

1

The name of this Order is the Welsh Development Agency (Financial Limit) Order 2004 and it comes into force on 1 August 2004.

Increase in financial limit

2

For the purposes of section 18(3) of the Welsh Development Agency Act 1975 (finances of the Agency) the limit is specified as £3,000 million.

Signed

Signed on behalf of the National Assembly for Wales under section 66(1) of the Government of Wales Act 1998[^f00003].

D. Elis-Thomas — The Presiding Officer of the National Assembly — 14 July 2004

Explanatory note

(This note is not part of the Order)

The Welsh Development Agency is an executive Assembly Sponsored Public Body which was established by the Welsh Development Agency Act 1975 for the purposes of furthering the economic and social development of Wales, promoting efficiency in business and international competitiveness in Wales and furthering the improvement of the environment in Wales.

Subsection 18(3) of the 1975 Act specifies the Agency’s financial limit, and provides for that limit to be increased by order. This Order increases the limit from £2,000 million to £3,000 million.

Footnotes

[^f00001]: 1975 (c. 70); section 18 was amended by section 1 of the Industry Act 1979 (c. 32), by sections 5(1) and 21 of and Schedule 2 to the Industry Act 1980 (c. 33), and by section 1 of the Welsh Development Agency Act 1997 (c. 37).

[^f00002]: See the National Assembly for Wales (Transfer of Functions) Order 1999 (S.I. 1999/672).

[^f00003]: 1998 c. 38.