(1)Every civic restaurant authority shall keep an account of their income under this Act and their expenditure under this Act on income account, . . . F1
(2)Every civic restaurant authority shall use their best endeavours to ensure that their income under this Act is sufficient to defray their expenditure thereunder . . . F1
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
(5)Any expenses incurred under this Act by a civic restaurant authority in Scotland shall, in so far as they cannot be defrayed out of the receipts of the authority under this Act, be defrayed by the authority, . . . F4
(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
(7)A civic restaurant authority in Scotland who incur expenditure under this Act . . . F4 may, . . . F4, borrow such sums as may be required to meet any expenditure of a capital nature, or the cost of executing any work, or providing any plant or equipment, or doing any other thing where, having regard to the nature of the work, plant, equipment or thing, the cost ought to be spread over a period of years:
Provided that—
(a)sums so borrowed shall be repaid within such period not exceeding sixty years as the Secretary of State may determine;
(b)nothing in this subsection shall authorise the exercise of the power of borrowing money thereby conferred otherwise than in compliance with the provisions of the M1Local Authorities Loans Act, 1945, of any Defence Regulation within the meaning of the M2Supplies and Services (Transitional Powers) Act, 1945, for the time being having effect by virtue of that Act, and of any orders for the time being in force, made by the Treasury under section one of the M3Borrowing (Control and Guarantees) Act, 1946.
Textual Amendments
F1Words repealed (E.W.) by Local Government Act 1974 (c. 7), s. 35, Sch. 6 para. 4, Sch. 8 and (S.) by Local Government (Scotland) Act 1975 (c. 30), Sch. 6 Pt. II para. 11, Sch. 7
F2S. 3(3) repealed by Local Government Act 1972 (c. 70), Sch. 30
F3S. 3(4) repealed by London Government Act 1963 (c. 33), s. 93(1), Sch. 18 Pt. II
F4Words repealed by Local Government (Scotland) Act 1973 (c. 65), Sch. 29
F5S. 3(6) repealed by Local Government (Scotland) Act 1973 (c. 65), Sch. 29
Marginal Citations