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The Local Authority Stocks and Bonds (Scotland) Amendment Regulations 1991
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- UK Statutory Instruments
- 1991 No. 385 (S. 38)
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations amend regulation 4(1) of the Local Authority Stocks and Bonds (Scotland) Regulations 1975 (“the principal Regulations”) by adding at sub-paragraph (c) terms of repayment of bonds issued by local authorities.
Regulation 4(1)(c) of the principal Regulations, as amended by these Regulations, repeats a similar provision in a General Consent dated 19th October 1983, published by Her Majesty’s Stationery Office and issued under the Control of Borrowing Order 1958 (S.I. 1958/1208), which in turn was made under the Borrowing (Control and Guarantees) Act 1946 (c. 58) (“the 1946 Act”). The 1946 Act was repealed by section 4 of the Government Trading Act 1990 (c. 30), with effect on 11 th February 1991 in terms of the Government Trading Act 1990 (Appointed Day) Order 1991 (S. I. 1991/132), and therefore on that date the General Consent and Order mentioned above were revoked.
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