S. 5 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)

S. 5 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)

http://www.legislation.gov.uk/ukpga/2003/26/section/5/2006-04-01Local Government Act 2003An Act to make provision about finance, and other provision, in connection with local and certain other authorities; to provide for changing the dates of local elections in 2004; to amend the Audit Commission Act 1998; and for connected purposes.texttext/xmlenStatute Law Database2024-06-14Expert Participation2006-04-01Part 1Capital finance etc and accountsChapter 1Capital finance etcBorrowing
5Temporary borrowing1

Subject to subsection (2), any limit for the time being determined by or for a local authority under section 3, or applicable to it under section 4, shall be treated for the purposes of this Chapter as increased by the amount of any payment which—

a

is due to the authority in the period to which the limit relates, but

b

has not yet been received by it.

2

In the case of a limit determined under section 3, or set under section 4(2), subsection (1) shall not apply to any payment whose delayed receipt was taken into account in arriving at the limit.

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<note class="commentary I" eId="key-48c0adac8085c709510f8509ce262649">
<p>
S. 5 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
<ref href="http://www.legislation.gov.uk/id/uksi/2003/3034">S.I. 2003/3034</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/3034/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/3034/schedule/1/part/I">Sch. 1 Pt. I</ref>
(with
<ref href="http://www.legislation.gov.uk/id/uksi/2003/3034/schedule/2/paragraph/3">Sch. 2 para. 3</ref>
)
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<note class="commentary I" eId="key-29f0ffdb208c59e721b760e1edb0dcd2">
<p>
S. 5 in force at 1.4.2004 for E. by
<ref href="http://www.legislation.gov.uk/id/uksi/2003/2938">S.I. 2003/2938</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/2938/article/7/a">art. 7(a)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/uksi/2003/2938/article/8">art. 8</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2003/2938/schedule">Sch.</ref>
)
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5
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