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The Local Government Act 2003 (Commencement No. 1 and Transitional Provisions and Savings) Order 2003

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Capital finance—Part 1 of the Act

17.  Any credit arrangement—

(a)within the meaning of section 48 of the 1989 Act (credit arrangements);

(b)in existence immediately before 1st April 2004; and

(c)which, if it had been entered into on 1st April 2004, would be a credit arrangement within the meaning of section 7 of the Act (“credit arrangements”),

shall be treated as if it were a credit arrangement for the purposes of Chapter 1 of Part 1 of the Act (capital finance etc).

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