Local Government (Scotland) Act 1975

31SIn this Schedule, unless the context otherwise requires—

  • “advance”, in relation to the loans fund and a borrowing account of a local authority, means the transfer of money by way of loan from the loans fund to the appropriate borrowing account in exercise of a statutory borrowing power;

  • “borrowing account”, in relation to a local authority, means an account of the authority relating to a purpose for which the authority have a statutory borrowing power;

  • [“ F1council tax” shall be construed in accordance with the provisions of section 70(1) of the Local Government Finance Act 1992;

  • “ F1council water charge” shall be construed in accordance with the provisions of paragraph 6 to Schedule 11 to the Local Government Finance Act 1992;]

  • [F2“community charges” shall be construed in accordance with section 7 (creation and purpose of community charges) of the Abolition of Domestic Rates Etc. (Scotland) Act 1987;

  • “ F2community water charges” shall be construed in accordance with paragraph 6 of Schedule 5 to the said Act of 1987;]

  • “fixed period”, in relation to any sum advanced to a borrowing account or to a relevant authority, means such period not exceeding 30 years from the date of the advance as the local authority determine or such other period as the Secretary of State may determine in any particular case or [F3, from time to time, for any class of cases or] for the purpose of any enactment;

  • “loans fund” means the loans fund established under this Schedule;

  • “mortgage” means a deed containing an assignation by way of security of the funds, rates and revenues of a local authority;

  • “relevant authority” means any authority to whom a local authority may make a loan under paragraph 10 or 11 above;

  • “security”, in relation to a local authority, means a mortgage, a bond, a deposit receipt or other document of debt issued by the authority and the security created thereby (including stock created by the authority or a certificate in respect of such stock) by or under any enactment, but does not include . . . F4 a heritable security or other deed of security or document of debt affecting the common good of an islands area or district;

  • “statutory borrowing power” means any power to borrow money conferred on a local authority by or under any enactment, but does not include the power of an islands or district council to borrow for the purposes of the common good;

  • “trustee securities” means any security in which trustees are for the time being authorised by law to invest trust money.

Textual Amendments

F1Definitions in Sch. 3 para. 31 of "council tax" and "council watercharge" inserted (1.4.1993) by Local Government Finance Act 1992 (c. 14), s. 117(1), Sch. 13 para. 44(d) (with s. 118(1)(2)(4)); S.I. 1993/575, art. 2(c).

F2Definitions in Sch. 3 para. 31 of "community charges" and "community watercharges" (which were inserted by Abolition of Domestic Rates Etc. (Scotland) Act 1987 (c. 47), s. 6, Sch. 1 para. 36) repealed (1.4.1993) by Local Government Finance Act 1992 (c. 14), s. 117(2), Sch.14 (with s. 118(1)(2)(4)); S.I. 1993/575, art. 2(d).