Local Government (Scotland) Act 1947

Payments of capital money to loans fund.

6 The following sums shall be paid into the loans fund as capital money when received or, in the case of sums specified in paragraphs (c) and (e) hereof, when due, that is to say—

(a) all money borrowed by the council in the exercise of their statutory borrowing powers, including money forming part of any capital fund (within the meaning of section eight of the Local Authorities Loans Act, 1945) belonging to or held by the council transferred by authority of the council to the loans fund for the purpose of being used under the provisions of this Act in exercise of a statutory borrowing power;

(b) all money of a capital nature received by the council whether from the sale of capital assets or otherwise, except such as is properly applicable to another capital purpose;

(c) the appropriate periodical sums required to be set aside by the council out of the various borrowing accounts for the repayment of advances made from the loans fund to these borrowing accounts;

(d) the appropriate periodical sums and other sums paid by other local authorities in repayment of advances to those authorities;

(e) any other money which is directed in pursuance of these rules to be carried to the loans fund and treated as capital money in the loans fund.