The ECGD is a government department whose statutory powers are set out in the Export and Investment Guarantees Act 1991. Section 2(1) substituted, for section 1(1) of the Export and Investment Guarantees Act 1991, new subsections (1) and (1A). This is a compilation of the Export Finance and Insurance Corporation Act 1991 that shows the text of the law as amended and in force on 21 October 2016 (the compilation date). Since 10 November 2011 it has the operational name of UK Export Finance. Section 2. Since 10 November 2011 it has the operational name of UK Export Finance. For more information, see the ECGD website: Practical Law Dictionary. ECGD was established in 1919 to promote UK exports lost during the submarine blockade of World War I. This Act shall be known as the "Foreign Investments Act of 1991." The ECGD is a government department whose statutory powers are set out in the Export and Investment Guarantees Act 1991 (as amended by the Industry and Exports (Financial Support) Act 2009). The ECGD is a government department whose statutory powers are set out in the Export and Investment Guarantees Act 1991 (as amended by the Industry and Exports (Financial Support) Act 2009). Business, Innovation and Skills exercised through the Export Credits Guarantee Department, is published in accordance with the requirements of the Export and Investment Guarantees Act, 1991, as amended by the Industry and Exports (Financial Support) Act 2009. It encourages exports from the UK by making export credit insurance available to exporters and guaranteeing repayment to UK banks that provide finance for exports on credit terms of two years or more. The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. (ECGD)A UK government department that operates under the Export and Investment Guarantees Act 1991. Section 2(2) provides that the power conferred by section 1(1) of that Act, as substituted, includes a power to make arrangements in connection with goods or services supplied before the commencement of section 2 of this Act. Annual Review presented to Parliament pursuant to s. 7(5) of the Export and The Committee will be aware that the enabling Act of ECGD, the Export Guarantees and Overseas Investment Act 1978, required ECGD statutorily to encourage United Kingdom trade by providing insurance and related export support facilities for United Kingdom exporters. The Bill proposes to increase the total level of financial support to industry allowed under section 8 of the Industrial Development Act 1982. Declaration of Policy It is the policy of the State to attract, promote and welcome productive investments from foreign individuals, partnerships, ... Foreign investment in export enterprises whose products and services 10 See Export and Investment Guarantees Act 1991 as amended and complemented by the Industry and Exports (Financial Support) Act 2009. This Bill would amend section 8(5) of the Industrial Development Act 1982 and section 1(1) of the Export and Investment Guarantees Act 1991. However, Clause 1 of the Bill merely refers to facilitating instead of encouraging. ECGD derives its powers from the Export and Investment Guarantees Act 1991 and undertakes its activities in accordance with a specific consent from HM Treasury. The government has confirmed its intention to make changes to the Export and Investment Guarantees Act 1991 (as amended) to broaden its powers to support UK exports and overseas investments through payment guarantees or loans provided by UK Export Finance.