The Hydrographic Office Trading Fund (Variation) Order 1997
The Hydrographic Office Trading Fund was established by the Hydrographic Office Trading Fund Order 1996 (S.I. 1996/773) with effect from 1st April 1996. At the time of the establishment of the fund a final valuation of the assets and liabilities as at 1st April 1996 appropriated to the Fund by the Order had not been carried out and the amount of the revaluation reserve and the public dividend capital were based on an estimated valuation. As a consequence of the subsequent final valuation this Order varies the 1996 Order by substituting an amount of £264,807 for the revaluation reserve and £13,266,833 for the public dividend capital. These amounts represent 0.97 per cent and 49.5 per cent respectively of the amounts by which the value of the assets exceed the amounts of the liabilities and replace amounts of 5.1 per cent and 47.3 per cent respectively.