34.The borrowing of parish and town councils in England (plus charter trustees and, in Wales, community councils) is still controlled under the system in the Local Government Act 1972 which was repealed for principal authorities in 1990. This relies upon case-by-case appraisal of applications for borrowing consent. The effect of this section is to replace the old provisions with new ones which appear in Schedule 1 to the present Act. There is some tidying up but the broad arrangements are unchanged.