Point in time view as at 01/04/2012.
Local Government Act 2003, Section 1 is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
A local authority may borrow money—
(a)for any purpose relevant to its functions under any enactment, or
(b)for the purposes of the prudent management of its financial affairs.
Commencement Information
I1S. 1 in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I (with Sch. 2 para. 3)
I2S. 1 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)
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