1.  This Order may be cited as the Public Lending Right (Increase of Limit) Order 1999 and shall come into force on 1st April 1999.

2.  The limit on the sums to be paid under section 2(2) of the Public Lending Right Act 1979 out of money provided by Parliament into the Central Fund to satisfy the liabilities of any one financial year of the Fund shall, in respect of any financial year beginning after 31st March 1999, be increased to £5.5 million less the total of any sums paid in that year, out of money so provided, under paragraph 2 of the Schedule to that Act (pay, pension, etc of Registrar).

Explanatory Note

(This note is not part of the Order)

Section 2(2) of the Public Lending Right Act 1979 limits the sums which are to be paid into the Central Fund out of money provided by Parliament for the purpose of satisfying the liabilities of the Fund in respect of the Public Lending Right in any one financial year. The limit was last raised by the Public Lending Right (Increase of Limit) Order 1993 (S.I. 1993/799) in respect of any financial year beginning after 31st March 1993 to £5 million less the total of any sums paid in that year out of money provided by Parliament in respect of the pay, pension, etc of the Registrar of Public Lending Right. This Order further increases the figure of £5 million to £5.5 million with effect from the beginning of the 1999/2000 financial year.