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The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020
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- UK Statutory Instruments
- 2020 No. 176
- SCHEDULE 1
- Paragraph 43
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Public Works Loans Act 1875
43.—(1) Section 51 (definitions) is amended as follows.
(2) Omit the words “with the approval of the Treasury” in the definition of “prescribed”.
(3) After the definition of “financial year” insert–
“The expression “local loan” means a loan made in pursuance of section 3 of the National Loans Act 1968.”.
(4) For the definition of “special Act” substitute–
“The expression “special Act” means any Act under which local loans may be made by the Treasury and for the purposes of sections 18 and 50 of this Act only, any Act relating to any person having power to borrow money from the Treasury as a local loan.”.
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