Local Government Act 1972

98 Interpretation of sections 95 and 97. E+W

[F1 (1) In sections 95 and 97 “securities” means—

(a) shares;

(b) instruments creating or acknowledging indebtedness;

(c) instruments giving entitlements to investments;

(d) certificates representing securities;

(e) units in a collective investment scheme;

(f) rights to, or interests in, any security of the kind mentioned in paragraphs (a) to (e);

(g) rights (whether actual or contingent) to money lent to, or deposited with—

(i) a society registered under the Industrial and Provident Societies Act 1965, or

(ii) a building society within the meaning of the Building Societies Act 1986,

and the definition of securities must be read with section 22 of the Financial Services and Markets Act 2000, any relevant order under that section and Schedule 2 to that Act.]

[F2 (1A) In sections 94 and 97 above “local authority” includes a joint authority [F3 , the London Fire and Emergency Planning Authority][F4 and a police authority established under [F5 section 3 of the Police Act 1996][F6 and the Metropolitan Police Authority][and the Service Authority for the National Crime Squad]] . . . F7 and in section 94(5)(a) above “principal council” includes any such authority.]

[F8 (1B) In the application of section 97 above to a member of the Service Authority for the National Crime Squad, subsection (1) of that section shall apply as if the words from “or in any other case” to the end were omitted.]

(2) In section 95 above “public body” includes any body established for the purpose of carrying on under national ownership any industry or part of an industry or undertaking, the governing body of any university, university college or college, school or hall of a university and the National Trust for Places of Historic Interest or Natural Beauty incorporated by the M1 National Trust Act 1907.

Textual Amendments

F1 S. 98(1) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 281

F2 S. 98(1A) inserted by Local Government Act 1985 (c. 51, SIF 81:1), s. 84, Sch. 14 Pt. I para. 13

F3 Words in s. 98(1A) inserted (3.7.2000) by 1999 c. 29, s. 328(8), Sch. 29 Pt. I para. 15 (with Sch. 12 para. 9(1)); S.I. 2000/1094, art. 4(a)(h)

F4 Words in s. 98(1A) inserted (1.10.1994 for specified purposes otherwise 1.4.1995) by 1994 c. 29, s. 43, Sch. 4 Pt. I para. 7; S.I. 1994/2025, art. 6; S.I. 1994/3236, art. 4(1), Sch.

F5 Words in s. 98(1A) substituted (22.8.1996) by 1996 c. 16, ss. 103, 104(1), Sch. 7 Pt. I para. 1(2)(h)

F6 Words in s. 98(1A) inserted (3.7.2000) by 1999 c. 29, s. 325, Sch. 27 para. 25 (with Sch. 12 para. 9(1)); S.I. 2000/1648, art. 2, Sch.

F7 Words repealed by Education Reform Act 1988 (c. 40, SIF 41:1), ss. 231(7), 235(6), 237(2), Sch. 13 Pt. I

F8 S. 98(1B) inserted (31.10.1997) by 1997 c. 50, s. 88, Sch. 6 para. 2(a); S.I. 1997/2390, art. 2

Modifications etc. (not altering text)

C1 Ss. 94-98 applied with modifications by Water Resources Act 1991 (c. 57, SIF 130), s. 14, Sch. 4, Pt. II, para. 14(1).

C2 Ss. 94-98 excluded (27.11.2001temp. until 27.7.2002) by S.I. 2001/3576, art. 3(1)(a)

Ss. 94-98 excluded (27.11.2001temp. until 27.7.2002) by S.I. 2001/3578, art. 3(1)(a)

C3 S. 98 applied (10.01.1992) by S.I. 1991/2913, arts. 6, 8, Sch. 1.

S. 98: certain functions transferred (subject to modifications) (10.01.1992) by S.I. 1991/2913, arts. 6, 8, Sch. 1.

Ss. 94-98 extended (19.9.1995) by 1995 c. 25, ss. 63(5), 125(2), Sch. 7 para. 10(1) (with ss. 7(6), 115, 117, Sch. 8 para. 7)

Ss. 94-98 applied (with modifications)(11.12.1995) by S.I. 1995/3218, art. 2, Sch. para. 20(1); S.I. 1995/3229, art. 2, Sch. para. 20(1); S.I. 1995/3230, art. 2, Sch. para. 20(1)

Ss. 94-98 applied (with modifications)(5.12.1995) by S.I. 1995/3132, art. 2, Sch. para. 20(1); S.I. 1995/3133, art. 2, Sch. para. 20(1)

Ss. 94-99 applied (with modifications)(5.12.1995) by S.I. 1995/3127, art. 2, Sch. para. 20(1)

Ss. 94-98 applied (with modifications)(8.1.1996) by 1995 c. x, ss. 1(3), 44, Sch. Pt. I

Ss. 94-98 applied (with modifications)(20.11.1996) by S.I. 1996/2912, art. 2, Sch. para. 20(1); S.I. 1996/2916, art. 2, Sch. para. 20(1); S.I. 1996/2917, art. 2, Sch. para. 20(1); S.I. 1996/2918, art. 2, Sch. para. 20(1); S.I. 1996/2919, art. 2, Sch. para. 20(1); S.I. 1996/2920, art. 2, Sch. para. 20(1); S.I. 1996/2921, art. 2, Sch. para. 20(1); S.I. 1996/2922, art. 2, Sch. para. 20(1); S.I. 1996/2923, art. 2, Sch. para. 20(1); S.I. 1996/2924, art. 2, Sch. para. 20(1)

Ss. 94-98: power conferred to make provisions about matters of the kind dealt with in this section (1.9.1997) by 1997 c. 50, s.44(1), Sch. 4(a)(i); S.I. 1997/1930, art. 2(1)(2)(m)

Ss. 94-98 applied (with modifications) (E.) (18.5.2001) (temp.) by S.I. 2001/1517, art. 7

C4 S. 98 applied (07.08.1991) by S.I. 1991/1773, arts. 6, 8, Sch.1.

S. 98: certain functions transferred (subject to modifications) (07.08.1991) by S.I. 1991/1773, arts. 6, 8, Sch.1.

C5 S. 98(1A) amended by S.I. 1985/1884, art. 10, Sch. 3 para. 1(f)

C6 S. 98(1A) modified by S.I. 1987/2110, art. 2(2), Sch. 1 para. 3(f)

Marginal Citations

M1 1907 c. cxxxvi.