VOLUME 8
RESTRICTED
CHAPTER 18
CROWN AGENTS
18.1 - 18.2
18.1
18.1.1
APPOINTMENT AND ACTIVITIES
On 1 January 1980 the Crown Agents were reconstituted as a statutory corporation governed by the Crown Agents Act 1979. The Crown Agents are appointed by the Secretary of State for Foreign and Commonwealth Affairs. The Secretary of State has a number of functions and powers in relation to the Crown Agents under the Act.
18.1.2 The Crown Agents act as business and financial agents in the UK for the Governments of a number of independent countries overseas, for Governments of Dependent Territories (DTs) and for a number of non-governmental public sector bodies, all referred to in this Chapter as Overseas Principals. Lists of these are given in their annual reports.
18.1.3 The Crown Agents Act 1979 circumscribes the responsibilities that the Crown Agents may agree to undertake for their Overseas Principals, as well as the activities they may carry out in their own right. In general, they are organised for, and most commonly deal with, the following matters:
purchases, inspection, shipment and insurance of plant, equipment and stores of all kinds including stationery and stamps;
obtaining professional advice on projects; (the Crown Agents also give professional and technical advice in their own right);
managing operations relating to the raising and servicing of loans and administering and managing the provision of financial and technical assistance;
investment of funds;
personnel services including recruitment, payment of salaries, booking passages for officers and their families and the payment of pensions.
18.1.4 In their regular business, the Crown Agents are responsible only to their Principals. HMG cannot intervene in the business carried out by the Crown Agents for Principals other than itself.
18.2
FINANCE
18.2.1 The funds of the Crown Agents are derived from the fees charged to their Principals, and from certain services, cg training and consultancy work, that they are authorised to carry out in their own right. The Crown Agents are able to invest their own funds in their own name, in accordance with prescribed Investment Regulations, and earn interest.
18.2.2 The audited accounts of the Crown Agents are required to be submitted to the Secretary of State,
who must lay copies before Parliament.
18.2.3
Desk Officers should never authorise or request the Crown Agents to make any payments to a firm or individual. The Officer Administering the Government (OAG) of a Territory should make the request or give the authorisation direct to the Crown Agents.
September 1980
80
RESTRICTED
AL/2
No comments yet.
Private notes are available after approval.