- Latest available (Revised)
- Original (As made)
The Finance Act 2014, Section 300 (Local Loans) (Appointed Day) Order 2017
You are here:
- UK Statutory Instruments
- 2017 No. 1183 (C. 112)
- Explanatory Note
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
EXPLANATORY NOTE
(This note is not part of the Order)
This Order appoints the day on which section 300 of the Finance Act 2014 comes into force.
Section 3 of the National Loans Act 1968 (“the 1968 Act”) enables the Public Works Loan Commissioners (“the Commissioners”) to make local loans from sums issued for that purpose by the Treasury out of the National Loans Fund.
Section 4(1) of the 1968 Act sets a limit for those loans. That section provides that the aggregate of any commitments of the Commissioners to grant local loans, and any amount outstanding in respect of the principal of any local loans, must not exceed £55 billion or such lower or higher sum not exceeding £70 billion as the Treasury may from time to time specify by order.
Once in force, section 300 of the Finance Act 2014 will replace the amounts £55 billion and £70 billion in section 4(1) of the 1968 Act with the amounts £85 billion and £95 billion respectively. It will also revoke the Local Loans (Increase of Limit) Order 2008 (S.I. 2008/3004).
An impact assessment has not been prepared for this instrument because no impact on the private or voluntary sector is foreseen.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThis Explanatory Note only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.