Part I

Local Government Reorganisation
Chapter 5

Finance

Transitional provisions

Financing of new authorities prior to 1st April 1996.
25
1
The Secretary of State may with the consent of the Treasury make grants of such amounts, and subject to such conditions, to local authorities as he considers appropriate.
2
A local authority may with the consent of the Secretary of State (who shall in turn seek the consent of the Treasury) borrow by way of temporary loan or overdraft from a bank or otherwise any sums which they may temporarily require for the purpose of defraying expenses (including the payment of sums due by them to meet the expenses of other authorities) pending the receipt of revenues receivable by them after 1st April 1996.
3
Grants made under this section shall be made out of money provided by Parliament.
4
In this section “local authority” means any of the local authorities the members of which are to be elected, in accordance with section 5 of this Act, on 6th April 1995.
Pt. I (ss. 1-61) applied (1.4.1996) by 1990 c. 35, s. 21(5) (as inserted (1.4.1996) by 1996 c. 39, s. 180(1), Sch. 13 para. 164(2)(b); S.I. 1996/323, art. 4(1)(b)(c))