Local Government in Scotland Act 2003 (asp 1)

Part 7 S Finance

38 Scottish Ministers' power to pay off loans made to local authorities S

(1) The Scottish Ministers may make to the [F1 Treasury, in respect of a local loan made under section 3 of the National Loans Act 1968,] or to any other person payment reducing or extinguishing a local authority’s liability to the [F2 Treasury] or, as the case may be, that other person in respect of a loan made by the [F2 Treasury] or that other person to the authority for the purposes of capital expenditure.

(2) If the Scottish Ministers make a payment in pursuance of subsection (1) above they shall—

(a) prepare a report on their reasons for making that payment; and

(b) lay that report before the Scottish Parliament.

Textual Amendments

F1 Words in s. 38(1) substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 85(2)(a) (with art. 9)

F2 Word in s. 38(1) substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 85(2)(b) (with art. 9)