The Vehicle Inspectorate Trading Fund Order 19911 established a trading fund known as the Vehicle Inspectorate Trading Fund under the Government Trading Funds Act 19732 (“the 1973 Act”) which was extended and renamed as the Vehicle and Operator Services Agency Trading Fund 3 under the 1973 Act.

The Driving Standards Agency Trading Fund Order 19974 established a trading fund known as the Driving Standards Agency Trading Fund under the 1973 Act.

On 1st April 2014 the Vehicle and Operator Services Agency (“VOSA”) and the Driving Standards Agency (“DSA”)5 merged to form a single agency known as the Driver and Vehicle Standards Agency (“DVSA”).

Following this merger, it now appears to the Secretary of State for Transport that—

those operations of the DVSA which are referred to in article 3 of this Order, previously operations of VOSA and DSA, are suitable to be financed by means of a trading fund established under the 1973 Act and, in particular, to be so managed that the revenue of the fund would consist principally of receipt in respect of goods or services provided in the course of the operations in question, and

the financing of those operations by means of a trading fund would be in the interest of the improved efficiency and effectiveness of the management of those operations.

In accordance with section 2 of the 1973 Act, the Secretary of State for Transport has determined with Treasury concurrence that the assets and liabilities set out in Schedule 2 to this Order are properly attributable to the operations for which a fund is to be established and are suitable to be appropriated to that fund.

In accordance with section 6(2) of the 1973 Act, a draft of this Order has been laid before the House of Commons and has been approved by resolution of that House.

The Secretary of State for Transport in exercise of the powers conferred by sections 1, 2(1), 2(3) and (7), 2AA, 2A, 2C and 6(1) of the 1973 Act and with the concurrence of the Treasury makes the following Order: