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The Public Airport Companies (Capital Finance) (Amendment) Order 2003

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Statutory Instruments

2003 No. 1035

LOCAL GOVERNMENT, ENGLAND

The Public Airport Companies (Capital Finance) (Amendment) Order 2003

Made

6th April 2003

Laid before Parliament

8th April 2003

Coming into force

1st May 2003

The Secretary of State, in exercise of the powers conferred on him by section 39(5), (6) and (7) of the Local Government and Housing Act 1989(1) and of all other powers enabling him in that behalf, hereby makes the following Order:

1.  This Order may be cited as the Public Airport Companies (Capital Finance) (Amendment) Order 2003 and shall come into force on 1st May 2003.

2.  In Schedule 1 to the Public Airport Companies (Capital Finance) Order 1996(2) the entry for London Luton Airport Limited shall be omitted.

Signed by authority of the Secretary of State for Transport

John Spellar

Minister of State,

Department for Transport

6th April 2003

Explanatory Note

(This note is not part of the Order)

Part IV of the Local Government and Housing Act 1989 (c. 42) establishes a framework of capital finance controls for local authorities. Section 39 enables these controls to be extended and adapted so as to take account of the capital finance transactions of bodies under local authority control. Among these bodies are public airport companies which, under the Airports Act 1986, were established under the control of those local authorities which own their issued share capital. The Public Airport Companies (Capital Finance) Order 1996 set out the effects of the capital financing transactions of such companies for the local authority that is the controlling authority for that company under section 16(2) of the 1986 Act.

This Order amends the Public Airport Companies (Capital Finance) Order 1996. It provides for the deletion of London Luton Airport Limited from the application of that Order.

(2)

S.I. 1996/604 as amended by S.I. 1999/554 and 1999/2125.

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