III.   Fund

The Privy Fund known as His/Her Majesty's Most Honorable Privy Council is a type of Privy Fund as first formed in 1801 (39&40Geo3. c.67) onwards following the creation of the Capital Fund known as the United Kingdom, as a corporation controlled by the Bank of England. His/Her Majesty's Most Honorable Privy Council is effectively the Executive Council and therefore Executive Government of a Capital Fund functioning as a corporation and is usually equivalent to the Cabinet of Clerks, Ministers and Secretaries of State.  Hence, the Executive Government is technically His/Her Majesty's Most Honorable Privy Council of that particular corporation trading as if a nation.

In respect of His/Her Majesty's Most Honorable Privy Council:

(i) The formation of the United Kingdom as a Capital Fund trading as a corporation from 1801, also saw the creation of each major dominion and colony progressively into its own Capital Fund as a corporate “country” with the Executive Government being the respective Privy Council. Hence, Ireland was given a new Privy Council from 1801 onwards in the formation of a new Executive Government. Later, this extended to colonies granted semi-autonomy such as Canada, New Zealand, Bhutan, Brunei, Jamaica, Thailand, Tonga, Uganda and Australia; and

(ii) Upon the formation of the United Kingdom in 1801, the Privy Council of Great Britain was modified to be called the Queen-In-Council or King-In-Council to denote a higher standing than the Executive Government acting in its capacity as the “Privy Council”; and

(iii) Such forms of Privy Funds depend upon the constituting documents that formed the Capital Fund from which such Privy Funds derive their claimed power; and

(iv) It is technical and legally impossible for the Executive Government of a Capital Fund to abolish or lose its powers as a Privy Fund, unless the constituting document of the Capital Fund is also dissolved, or a revolution or coup renders the former dominion a territory or independent state.