Local Government Act 2003

Investment E+W

12 Power to invest E+W

A local authority may invest—

(a) for any purpose relevant to its functions under any enactment, or

(b) for the purposes of the prudent management of its financial affairs.

[F1 This is subject to a direction under section 12A (risk-mitigation directions).]

Textual Amendments

F1 Words in s. 12 inserted (31.1.2024) by Levelling-up and Regeneration Act 2023 (c. 55), ss. 78(6), 255(2)(p) (with s. 247); S.I. 2024/92, reg. 2(a)

Commencement Information

I1 S. 12 in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I (with Sch. 2 para. 3)

I2 S. 12 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)