The Local Authorities (Capital Finance) Regulations 1997

Interpretation of Part IV of the Act—references to loans and borrowing

160.—(1) Any reference in Part IV of the Act to a loan to or borrowing (or money borrowed) by a local authority (“the current authority”) includes a reference to a loan to or borrowing (or money borrowed) by another authority (“the original authority”) if the original authority’s liabilities in respect of the loan to or borrowing (or money borrowed) by them have become those of the current authority under or by virtue of—

(a) an order made under section 23(3) or 84 of the London Government Act 1963 (transfer of land held for housing purposes)(1);

(b) an order made under section 51(2), 58(2), 67(4) or 254(1) or (2)(a) or (d) of, or paragraph 7 of Schedule 10 to, the Local Government Act 1972(2) or regulations made under section 67(1) or (2) of that Act;

(c) an order made under section 66(1) or 67(3) of the Local Government Act 1985 (discharge of residuary functions)(3);

(d) section 25(6) of the Local Government Act 1985 (Northumbria Police Authority)(4);

(e) the Local Government Changes for England (Property Transfer and Transitional Payments) Regulations 1995(5);

(f) article 9 of the Police and Magistrates' Courts Act 1994 (Commencement No. 5 and Transitional Provisions) Order(6); or

(g) the Local Government Reorganisation (Wales) (Property etc.) Order 1996(7).

(2) Any reference in Part IV of the Act to a loan to or borrowing (or money borrowed) by a local authority does not include a reference to a loan to or borrowing (or money borrowed) by that authority if their liabilities in respect of the loan or borrowing (or money borrowed) have become those of another authority by virtue of—

(a) an order made under section 51(2), 58(2) or 67(4) of, or paragraph 7 of Schedule 10 to, the Local Government Act 1972 or regulations made under section 67(1) or (2) of that Act; or

(b) article 9 of the Police and Magistrates' Courts Act 1994 (Commencement No. 5 and Transitional Provisions) Order 1994.

(1)

1963 c. 33.

(2)

1972 c. 70.

(3)

1985 c. 51.

(4)

Section 25 was repealed by Section 93 of, and Part I of Schedule 9 to, the Police and Magistrates' Courts Act 1994 (c. 29).

(5)

S.I. 1995/402; amended by S.I. 1995/1748.

(6)

S.I. 1994/3262 (C. 83). There are amendments which are not relevant to this regulation.

(7)

S.I. 1996/532.