The Local Authorities (Capital Finance) (Approved Investments) (Amendment) Regulations 1992

Statutory Instruments

1992 No. 1353

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Authorities (Capital Finance) (Approved Investments) (Amendment) Regulations 1992

Made

5th June 1992

Laid before Parliament

15th June 1992

Coming into force

6th July 1992

The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 66(1)(a) of the Local Government and Housing Act 1989(1), and of all other powers enabling them in that behalf, hereby make the following Regulations:

1.  These Regulations may be cited as the Local Authorities (Capital Finance) (Approved Investments) (Amendment) Regulations 1992 and shall come into force on 6th July 1992.

2.  The Local Authorities (Capital Finance) (Approved Investments) Regulations 1990(2) shall be amended by the addition of the following paragraph at the end of Part II of the Schedule:

“28.  A district council established under the Local Government Act (Northern Ireland) 1972(3).”.

Michael Howard

Secretary of State for the Environment

5th June 1992

David Hunt

Secretary of State for Wales

5th June 1992

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 which contain a list of investments approved by the Secretary of State for the purposes of Part IV of the Local Government and Housing Act 1989 (revenue accounts and capital finance of local authorities).

The amendment adds district councils in Northern Ireland to the list of persons or bodies in Part II of the Schedule to the 1990 Regulations with the effect that any advance made to, or a loan instrument issued by or to, any such council is an approved investment for the purposes of Part IV.

(1)

1989 c. 42.

(2)

S.I. 1990/426, amended by S.I. 1991/501.

(3)

1972 c. 9 (N.I.).