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Local Government (Miscellaneous Provisions) (Scotland) Act 1981

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This is the original version (as it was originally enacted).

27Consent to certain local authority borrowing

For sub-paragraph (2) of paragraph 1 of Schedule 3 to the 1975 Act (which empowers a local authority to borrow sums required to meet certain expenses where the local authority are satisfied that the expenses should be so met and repayment spread over a term of years) there shall be substituted the following sub-paragraph—

(2)With the consent of the Secretary of State, a local authority may borrow, on such terms and conditions as to repayment as the Secretary of State may in so consenting allow, such sums as are required to meet expenses, other than expenses to which sub-paragraph (1) above relates, which the authority have power to incur in the exercise of any of their functions (excluding functions relating to a public utility undertaking); but the Secretary of State shall give such consent only if satisfied that the' expenses are of such a nature that they should be met by such borrowing..

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