Local Government (Scotland) Act 1973

42 Interpretation of sections 39 and 41. S

[F1 (1) In sections 39 and 41 of this Act “securities” means—

(a) investments falling within any of paragraphs 1 to 6 of Schedule 1 to the Financial Services Act 1986 or, so far as relevant to any of those paragraphs, paragraph 11 of that Schedule; or

(b) rights (whether actual or contingent) in respect of money lent to, or deposited with, any society registered under the Industrial and Provident Societies Act 1965 or any building society within the meaning of the Building Societies Act 1986.]

(2) In section 39 of this Act, “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, or college, school or hall of a university, college of education or central institution or of any institution established under [F2 section 77(2) of the M1 Education (Scotland) Act 1980] and the National Trust for Scotland for Places of Historic Interest or Natural Beauty incorporated by the Order confirmed by the M2 National Trust for Scotland Order Confirmation Act 1935.

In this subsection, “college of education” and “central institution” have the meanings assigned to them by [F2 section 135(1) of the said Act of 1980].

Textual Amendments

F1 S. 42(1) substituted by Financial Services Act 1986 (c. 60, SIF 69), s. 212(2), Sch. 16 para. 9

F2 Words substituted by virtue of Interpretation Act 1978 (c. 30), s. 17(2)(a) and Education (Scotland) Act 1980 (c. 44), Sch. 3 para. 1

Modifications etc. (not altering text)

C1 S. 42 applied (temp. from 6.4.1995 until 1.4.1996) by S.I. 1995/789, art. 2, Sch. para. 3

S. 42 applied (with modifications) (1.4.1996) by S.I. 1995/3026, arts. 1(2), 14

Marginal Citations

M1 1980 c. 44.

M2 1935 c. ii.