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Local Government in Scotland Act 2003
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10Trading operations and accountsS
This section has no associated Explanatory Notes
(1)It is the duty of a local authority to conduct each of its significant trading operations so that, as respects that operation—
(a)in relation to every three year period; and
(b)taking every year with the two previous years,
revenue is not less than expenditure.
(2)In subsection (1) above, the references to a local authority’s significant trading operations are references to those of its trading operations for which it must, in accordance with proper accounting practices, disclose trading accounts and, in this subsection, “proper accounting practices” is to be construed in accordance with section 12(2) below.
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