BrowseStatutory InstrumentsSI 2024/1297
SIin_forceSI 2024/1297 · order

The Export and Investment Guarantees (Limit on Exports and Insurance Commitments) Order 2024

Section 6(1) of the Export and Investment Guarantees Act 1991 limits the aggregate amount of the Secretary of State’s commitments under arrangements made pursuant to that Act relating to exports and insurance to 67,700 million special drawing rights. Section 6(4)(a) of that Act provides that the Secretary of State may by order increase, or further increase, that limit by a sum not exceeding 5,000 million special drawing rights. Section 6(4A) of that Act provides that the power to make such an order cannot be exercised on more than three occasions. This is the first time the limit has been increased. This Order increases the limit from 67,700 million to 72,700 million special drawing rights to accommodate prospective future business.

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Lifecycle
Department
Made
04 Dec 2024
In force
25 Dec 2024