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Local Government and Housing Act 1989
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Changes over time for: Section 63
Version Superseded: 01/04/2004
Alternative versions:
- 01/02/1991- Amendment
- 01/04/2000- Amendment
- 29/12/2003
Point in time - 01/04/2004- Amendment
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63 Duty to set certain amounts aside as provision to meet credit liabilities.E+W
(1)Without prejudice to any other provision of this Part under which a local authority are required or authorised to set aside any amount as provision to meet credit liabilities, in each financial year a local authority shall, by virtue of this section, set aside, from such revenue account or accounts as the authority think fit, as provision to meet credit liabilities, an amount determined by the authority, being not less than the minimum revenue provision for that year referred to in Part IV of Schedule 3 to this Act.
(2)Where, by virtue of section 157 below, the Secretary of State makes to a local authority a commuted payment, within the meaning of that section, the authority shall, at the time the payment is received, set aside an amount equal to that payment as provision to meet credit liabilities.
(3)If, otherwise than by virtue of section 157 below, the Secretary of State or any other Minister of the Crown commutes into a single payment (or into a smaller number of payments than would otherwise be payable) sums which would otherwise have been paid to a local authority annually or by reference to any other period of time, the authority shall, at the time that single payment or, as the case may be, each of that smaller number of payments is received, set aside an amount equal to the payment as provision to meet credit liabilities.
(4)Where a local authority receive any sum [F1towards the authority’s expenditure on capital purposes by way of grant from a Community institution other than a contribution from any of the Structural Funds,] they shall at the time the sum is received, set aside an amount equal to that sumas provision to meet credit liabilities.
(5)A determination under subsection (1) above shall be made not later than 30th September in the financial year following that to which the determination relates.
Textual Amendments
F1Words in s. 63(4) substituted (1.4.2000) by S.I. 2000/589, art. 2(1)(4)
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