The Local Authorities (Borrowing) (Amendment) Regulations 1990

This Statutory Instrument has been made in consequence of defects in S.I. 1990/767 and is being issued free of charge to all known recipients of that Statutory Instrument.

Statutory Instruments

1990 No. 1091

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Authorities (Borrowing) (Amendment) Regulations 1990

Made

16th May 1990

Laid before Parliament

18th May 1990

Coming into force

19th May 1990

The Secretary of State for the Environment, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 43(5) of the Local Government and Housing Act 1989(1) and of all other powers enabling them in that behalf, with the consent of the Treasury, hereby make the following Regulations:

1.  These Regulations may be cited as the Local Authorities (Borrowing) (Amendment) Regulations 1990 and shall come into force on 19th May 1990.

2.—(1) The Local Authorities (Borrowing) Regulations 1990(2) are hereby amended as follows.

(2) In regulation 7(5), in the definition of “C”, after the word “paragraph” there shall be inserted “2(1) or calculated in accordance with paragraph”.

(3) In the Schedule to the Regulations, in paragraph 5, for the word “date”, at the last place where it occurs, there shall be substituted “rate”.

Chris Patten

Secretary of State for the Environment

11th May 1990

Signed by authority of the Secretary of State

Wyn Roberts

Minister of State

Welsh Office

15th May 1990 Welsh Office

We consent,

David Lightbown

John Taylor

Two of the Lords Commissioners of Her Majesty’s Treasury

16th May 1990

Explanatory Note

(This note is not part of the Regulations)

These Regulations make two amendments to the Local Authorities (Borrowing) Regulations 1990. They amend regulation 7(5), which imposes a limit on the issue of bills by local authorities by reference to a formula. A reference is inserted in “C”, one of the factors in the formula, to paragraph 2(1) of Schedule 7 to the Local Government Finance Act 1988 which was inadvertently omitted from the earlier Regulations. The second amendment corrects a typographic error.

(1)

1989 c. 42

(2)

S.I. 1990/767