Search Legislation

New Towns (Scotland) Act 1977

What Version

 Help about what version

Advanced Features

 Help about advanced features

Opening Options

 Help about opening options

Changes to legislation:

There are currently no known outstanding effects for the New Towns (Scotland) Act 1977, Section 5. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

5 Financial provisions.S

(1)The winding up body shall keep proper accounts and other records in relation to the accounts in connection with the exercise of their functions as respects the new town, and section 39 of the said Act of 1968 (accounts, audit, etc.) shall apply to the winding up body as it applies to a development corporation.

(2)All heritable and moveable property and interests therein and rights, liabilities and obligations relating to the new town which have not been disposed of by the date specified by the Secretary of State for the completion of the winding up of the new town shall thereafter be held or dealt with by the winding up body as their own.

(3)The winding up body shall be debited with the value of the property and interests therein and rights, mentioned in subsection (2) above, and shall be credited with the cost of meeting any outstanding liabilities and obligations so mentioned, all as assessed by the district valuer as at the date of transfer thereof, and thereafter the accounts mentioned in subsection (1) above shall be closed.

(4)Any surplus arising as a result of subsection (3) above shall be disposed of in the same manner as a surplus under section 38B of the said Act of 1968 (surplus funds of development corporations), and any deficit so arising shall be paid to the winding up body by the Secretary of State out of moneys provided by Parliament.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources