Public Works Loans Act 1965

1965 CHAPTER 63

An Act to make further provision with respect to loans out of the Local Loans Fund; and for connected purposes.

[5th August 1965]

Commencement Information

I1 Act partly in force at Royal Assent; Act wholly in force at 5.11.1965 see s. 4(4)

1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 E+W+S

Textual Amendments

F1 S. 1 repealed by National Loans Act 1969 (c. 13), Sch. 6 Pt. II

2 New form of local loan and automatic charge for securing it. E+W+S

(1) The Loan Commissioners may, without first taking security under section 12 of the M1 Public Works Loans Act 1875, enter into an agreement for lending money to a relevant authority under section 9 of that Act; and in this section “relevant authority” means—

(a) in relation to England and Wales, [F2 any authority being, within the meaning of the Local Loans Act 1875, an authority having power to levy a rate;]

[F2 (i) a charging authority, a precepting authority, a combined police authority or a combined fire authority, as defined in section 144 of the Local Government Finance Act 1988;

(ii) a levying body within the meaning of section 74 of that Act; and

(iii) a body as regards which section 75 of that Act applies.]

[F3 (b) in Scotland—

(i) any local authority within the meaning of the M2 Local Government (Scotland) Act 1973,

(ii) any joint board or joint committee within the meaning of that Act, and

(iii) any other authority having the power to requisition any sum from any such local authority.]

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4

(3) Where the Loan Commissioners make an agreement to which this section applies with a relevant authority other than one authorised to borrow money under [F5 section 43 of the Local Government and Housing Act 1989 (borrowing powers)] or [F6 Schedule 3 to the M3 Local Government (Scotland) Act 1975] then, so long as any part of the principal of and interest on the loan remains outstanding, the loan shall be a charge on all the revenues of the authority (including any grants or contributions from the Exchequer which are receivable by the authority).

(4) A charge imposed on an authority’s revenues by the last foregoing subsection shall, subject to any provision to the contrary applicable to the charge which has been made by or under any enactment, rank equally with any other charges on those revenues.

(5) The enactments specified in the Schedule to this Act shall have effect subject to the adaptations and modifications set out in that Schedule, being adaptations and modifications consequential on the foregoing provisions of this section; and in that Schedule “automatic charge” means a charge imposed, for securing a loan made in pursuance of an agreement to which this section applies, by [F7 section 47 of the Local Government and Housing Act 1989 (security for money borrowed)] by [F8 paragraph 8 of Schedule 3 to the said Act of 1975] or by subsection (3) of this section.

Textual Amendments

F2 S. 2(1)(a)(i)–(iii) substituted (E.W.) for words commencing “any authority” by S.I. 1990/776, art. 8, Sch. 3 para. 10

F3 S. 2(1)(b)(i)–(iii) substituted (S.) for s. 2(1)(b) by Abolition of Domestic Rates Etc. (Scotland) Act 1987 (c. 47, SIF 81:2, 103:2), ss. 2, 6, Sch. 1 Pt. III para 22

F4 S. 2(2) repealed (E.W.) by Local Government Act 1972 (c. 70), Sch 30 and (S.) by Local Government (Scotland) Act 1975 (c. 30), Sch. 7

F5 Words substituted by virtue of Local Government and Housing Act 1989 (c. 42, SIF 81:1), ss. 194(1), 195(2), Sch. 11 para. 6(a) (subject to a saving in S.I. 1990/431, Sch. 1 para. 1(c)

F6 Words substituted by Local Government (Scotland) Act 1975 (c. 30), Sch. 6 Pt. II para. 30(b)

F7 Words substituted by virtue of Local Government and Housing Act 1989 (c. 42, SIF 81:1), ss. 194(1), 195(2), Sch. 11 para. 6(b) (subject to a saving in S.I. 1990/431, Sch. 1 para. 1(c)

F8 Words substituted by Local Government (Scotland) Act 1975 (c. 30), s. 38(1), Sch. 6 Pt. II para. 30(c)

Modifications etc. (not altering text)

C1 S. 2 extended by Public Works Loans Act 1967 (c. 61), s. 2(1), (E.W.) Local Government Act 1972 (c. 70), Sch. 13 Pt. I para. 2(1)(f) and (S.) Local Government (Scotland) Act 1975 (c. 30), Sch. 3 para. 2(1)(f)

C2 S. 2(3) restricted by Public Works Loans Act 1967 (c. 61), s. 2(2)

C3 S. 2(5) modified by Public Works Loans Act 1967 (c. 61), s. 2(2)(b)

Marginal Citations

M1 1875 c. 89.

M2 1973 c. 65.

M3 1975 c. 30.

3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9 E+W+S

Textual Amendments

F9 S. 3 repealed by Finance Act 1967 (c. 54), Sch. 16 Pt. VII

4 Short title, interpretation, extent and commencement. E+W+S

(1) This Act may be cited as the Public Works Loans Act 1965.

(2) In this Act, except where the context otherwise requires, references to any enactment shall be construed as references to that enactment as amended, extended or applied by or under any other enactment, including this Act.

(3) This Act shall not extend to Northern Ireland.

(4) This Act, except section 1, shall come into operation on the expiration of the period of three months beginning with the passing thereof.

Section 2(5).

SCHEDULE E+W+S Adaptations and Modifications of Enactments

Commissioners Clauses Act 1847(10 & 11 Vict. c. 16) E+W+S

1 Sections 75 and 81, as incorporated with [F10 section 87 of the M4 Land Drainage Act 1976] or with any other enactment applicable to a relevant authority within the meaning of section 2 of this Act, shall not apply to an automatic charge.

Textual Amendments

F10 Words substituted by Land Drainage Act 1976 (c. 70), Sch. 7 para. 6

Marginal Citations

M4 1976 c. 70.

2 In section 82, as so incorporated, the reference to a mortgage deed shall be construed as including a reference to an agreement to which section 2 of this Act applies.

Public Works Loans Act 1875(38 & 39 Vict. c. 89) E+W+S

3 E+W+S In the following provisions, that is to say, sections 8 . . . F11 any reference to that Act shall include a reference to section 2 of this Act.

Textual Amendments

F11 Words repealed by Public Works Loans Act 1967 (c. 61), s. 2(3)

4 E+W+S In section 11 the reference to such security as is required by that Act shall be construed as including a reference to any automatic charge.

5 E+W+S Section 12 shall not apply to a loan secured by an automatic charge.

6 E+W+S Section 19 shall, in relation to an automatic charge, have effect as if any reference to the date of the mortgage included a reference to the date of the making of the relevant agreement and as if any reference to interest mentioned in the mortgage included a reference to interest mentioned in the agreement.

7 E+W+S In section 38 the reference to any security previously given to the Loan Commissioners, and in sections 46 and 50 any reference to a security made or granted under that Act, shall include a reference to an automatic charge in their favour.

8, 9. E+W+S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12

Textual Amendments

F12 Sch. paras. 8, 9 repealed by Local Government Act 1972 (c. 70), Sch. 30

10 E+W+S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13

Textual Amendments

F13 Sch. para. 10 repealed by Local Government (Scotland) Act 1975 (c. 30), Sch. 7