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Part 1E+WCapital finance etc and accounts

Modifications etc. (not altering text)

C1Meaning of “local authority” in Pt. 1 modified (5.3.2008) by Cheshire (Structural Changes) Order 2008 (S.I. 2008/634), arts. 1, 9(9)(c)

C2Meaning of “local authority” in Pt. 1 modified (28.3.2008) by Bedfordshire (Structural Changes) Order 2008 (S.I. 2008/907), arts. 1, 20(7)(c)

C3Pt. 1 applied (15.1.2014) by Humber Bridge Act 2013 (c. vi), ss. 1(1), 8(4)

Chapter 1E+WCapital finance etc

BorrowingE+W

5Temporary borrowingE+W

(1)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 [F1or 12A], 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) [F2or 12A], subsection (1) shall not apply to any payment whose delayed receipt was taken into account in arriving at the limit.

Textual Amendments

Commencement Information

I1S. 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)

I2S. 5 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)