C2C3C4C5C6C7C8C9F2C10Part IV Revenue Accounts and Capital Finance of Local Authorities

Annotations:
Amendments (Textual)
F2

Pt. IV (ss. 39-66) excluded (4.10.1993) by S.I. 1993/2171, art. 5(3)

Modifications etc. (not altering text)
C2

Pt. IV (ss. 39–66) modified by S.I. 1990/404, art. 3,S.I. 1990/419, art. 14(5)(7), S.I. 1990/719, arts. 2(1), 3(2), 4(1) and S.I.1990/720, arts. 2, 3, 4, 6

C3

Pt. IV (ss. 39–66) amended by S.I. 1990/432, reg. 27

C4

Pt. IV (ss. 39–66) modified by S.I. 1989/814, art. 7(as amended by S.I. 1990/778, art. 2, Sch. para. 7) and S.I. 1989/1359, art.7 (as amended by S.I. 1990/778, art. 2, Sch. para. 8)

C5

Pt. IV (ss. 39–66) amended by Housing Act 1988 (c. 50,SIF 61), s. 74(6) (as amended by S.I. 1990/778, art. 2 Sch. para. 1) and s.104(5) (as amended by S.I. 1990/778, art. 2 Sch. para. 2)

C6

Pt. IV (ss. 39–66) modified by S.I. 1990/1024, arts.8(1)(2), 11(2)

Pt. IV (ss. 39-66) modified (31.3.1994) by S.I. 1994/566, art. 5(4)

Pt. IV (ss. 39-66) modified (31.3.1994) by S.I. 1994/695, art. 5(3)

Pt. IV (ss. 39-66) applied (temp.) (4.5.1995) by S.I. 1995/1042, art. 4(1)

Pt. IV (ss. 39-66) applied (with modifications) (1.4.1996) by S.I. 1996/604, art. 3(2)

Pt. IV excluded (25.9.1995) by S.I. 1995/2248, art. 5(4)

Pt. IV (ss. 39-66) power to make provision about matters of the kind dealt with in this part conferred (1.9.1997) by 1997 c. 50 s. 44(1), Sch. 4 para. (j)(ii); S.I. 1997/1930, art. 2(1)(2)(m)

Pt. IV (ss. 39-66) (except ss. 53, 55) modified (3.7.2000) by 1999 c. 29, s. 118(1)(2) (with Sch. 12 para. 9(1)); S.I. 2000/801, art. 2, Sch. Pt. 3

Pt. IV (ss. 39-66) modified (1.4.1997) by 1999/319, reg. 160(1)(2)

C7

Pt. IV (ss. 39-66) modified by S.I. 1991/548, art.3

C8

Pt. IV (ss. 39-66) restricted (6.4.1992) by S.I. 1992/581, art. 5(4)

C9

Pt. IV (ss. 39-66) modified (20.7.1993) by 1993 c. 28, s. 136(7)

Pt. IV (ss. 39-66) modified (1.4.1995) by S.I. 1995/849, arts. 1(2)(c), 13-18

C10

Pt. IV (ss. 39-66) applied (with modifications) (W.) (1.9.2002) by S.I. 1995/849, arts. 14-18 (as amended by The Local Authorities (Companies) (Amendment) (Wales) Order 2002 (S.I. 2002/2118), arts. 1(2), 2)

Credit approvals

54 Supplementary credit approvals.

1

Any Minister of the Crown may at any time issue to a local authority, in the form of a notice in writing, a credit approval (in this Part referred to as a “supplementary credit approval”).

C12

A supplementary credit approval shall be expressed as an amount of money and shall be limited to credit arrangements and expenditure for capital purposes of a description specified in the approval (but, if the Minister concerned considers appropriate, all capital purposes may be so specified).

C13

A supplementary credit approval shall have effect for such period as is specified in the approval; and where such an approval is issued not more than six months after the end of a financial year, it may specify a period which begins or begins and ends at any time during that financial year.

C14

Subject to subsection (5) below, subsections (4) and (5) of section 53 above apply in relation to a supplementary credit approval as they apply in relation to a basic credit approval.

C15

In the case of a supplementary credit approval issued in respect of expenditure which is treated by the authority concerned as expenditure for capital purposes by virtue only of directions under section 40(6) above, the approval F1may specify an amortisation period..