Search Legislation

Local Government Act 1974

Status:

This is the original version (as it was originally enacted).

12In paragraph 7 of Schedule 13 to that Act, in sub-paragraph (1), after the words " subject to " there shall be inserted the words " sub-paragraph (3) and " and at the end of that paragraph there shall be added the following sub-paragraph:—

(3)In any case where—

(a)a local authority make an advance to any other person (including another authority) and the expenditure incurred in making the advance is defrayed by borrowing, and

(b)the terms of that advance are such that repayment is to be made otherwise than by equal instalments of principal and interest combined, and

(c)apart from this sub-paragraph, the local authority would have no power, with respect to the expenditure referred to in paragraph (a) above, to vary the sums which would otherwise be debited under sub-paragraph (1) above or to suspend their obligation under that sub-paragraph,

the local authority may, under sub-paragraph (1) above, debit the account from which the expenditure referred to in paragraph (a) above would otherwise fall to be defrayed with sums of different amounts (whether or not including instalments of principal) in respect of different years in order to take account of the terms on which their advance falls to be repaid.

Back to top

Options/Help

Print Options

Close

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.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

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
Close

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 enacted 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