Point in time view as at 02/12/2014.
Local Government Act 2003, Cross Heading: Miscellaneous is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)Except as provided by subsection (3), a local authority may not mortgage or charge any of its property as security for money which it has borrowed or which it otherwise owes.
(2)Security given in breach of subsection (1) shall be unenforceable.
(3)All money borrowed by a local authority (whether before or after the coming into force of this section), together with any interest on the money borrowed, shall be charged indifferently on all the revenues of the authority.
(4)All securities created by a local authority shall rank equally without any priority.
(5)The High Court may appoint a receiver on application by a person entitled to principal or interest due in respect of any borrowing by a local authority if the amount due remains unpaid for a period of two months after demand in writing.
(6)The High Court may appoint a receiver under subsection (5) on such terms, and confer on him such powers, as it thinks fit.
(7)The High Court may confer on a receiver appointed under subsection (5) any powers which the local authority has in relation to—
(a)collecting, receiving or recovering the revenues of the local authority,
(b)issuing levies or precepts, or
(c)setting, collecting or recovering council tax.
(8)No application under subsection (5) may be made unless the sum due in respect of the borrowing concerned amounts to not less than £10,000.
(9)The Secretary of State may by order substitute a different sum for the one for the time being specified in subsection (8).
Modifications etc. (not altering text)
C1S. 13(1)(2) excluded (1.4.2004) by The Local Authorities (Capital Finance) (Consequential, Transitional and Saving Provisions) Order 2004 (S.I. 2004/533), arts. 1, 7(8), 7(9)
Commencement Information
I1S. 13 in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I (with Sch. 2 para. 3)
I2S. 13 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)
A local authority shall supply the Secretary of State with such information relating to any of the matters dealt with in this Chapter, and at such time, as he may request.
Commencement Information
I3S. 14 in force at 18.11.2003 for E. by S.I. 2003/2938, art. 3(a) (with art. 8, Sch.)
I4S. 14 in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I (with Sch. 2 para. 3)
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