7AFinancial arrangements etc

1

A chief constable may, by way of temporary loan or overdraft from a bank or otherwise, borrow sums temporarily required by the chief constable, but only—

a

for the purpose of meeting expenses pending the receipt of revenues receivable by the chief constable in respect of the period of account in which the expenses are chargeable,

b

in sterling, and

c

with the consent of the relevant police and crime commissioner.

2

A chief constable—

a

may not borrow money except as permitted by sub-paragraph (1);

b

may not enter into a credit arrangement.

3

A chief constable may invest—

a

for any purpose relevant to the chief constable's functions under any enactment, or

b

for the purpose of the prudent management of the chief constable's financial affairs,

but only with the consent of the relevant police and crime commissioner.

4

The following provisions of Part 1 of the Local Government Act 2003 (capital finance etc and accounts) apply in relation to a chief constable as they apply in relation to a local authority—

a

section 6 (protection of lenders);

b

section 7 (meaning of “credit arrangements”);

c

sections 9 to 11 (capital receipts), except for section 11(2)(b) and (3) to (6);

d

section 13 (security for money borrowed etc);

e

section 14 (information);

f

section 15 (guidance);

g

section 16 (meaning of “capital expenditure”);

h

section 17 (external funds);

i

section 18 (companies etc), ignoring any reference to a Passenger Transport Executive;

j

section 20 (directions);

k

sections 21 and 22 (accounts);

l

section 24(1) and (2)(b) (application to Wales).

5

Regulations made by the Secretary of State under any of the provisions listed in sub-paragraph (4) apply in relation to the chief constable of a police force in England as they apply in relation to a local authority in England.

6

Regulations made by the Welsh Ministers under any of those provisions apply in relation to the chief constable of a police force in Wales as they apply in relation to a local authority in Wales.

7

Any of those provisions, or regulations made under them, that apply for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 apply also (so far as relevant) for the purposes of sub-paragraphs (1) to (3).

8

An order under section 217 or 218 of the Local Government and Public Involvement in Health Act 2007, as it has effect for the purposes of section 18(2)(b) of the Local Government Act 2003 as applied by sub-paragraph (4)(i), applies—

a

with the substitution of a reference to a chief constable for a reference to a local authority, and

b

with any other necessary modifications.

4AFinancial arrangements etc

1

The Commissioner of Police of the Metropolis may, by way of temporary loan or overdraft from a bank or otherwise, borrow sums temporarily required by the Commissioner, but only—

a

for the purpose of meeting expenses pending the receipt of revenues receivable by the Commissioner in respect of the period of account in which the expenses are chargeable,

b

in sterling, and

c

with the consent of the Mayor's Office for Policing and Crime.

2

The Commissioner of Police of the Metropolis—

a

may not borrow money except as permitted by sub-paragraph (1);

b

may not enter into a credit arrangement.

3

The Commissioner of Police of the Metropolis may invest—

a

for any purpose relevant to the Commissioner's functions under any enactment, or

b

for the purpose of the prudent management of the Commissioner's financial affairs,

but only with the consent of the Mayor's Office for Policing and Crime.

4

The following provisions of Part 1 of the Local Government Act 2003 (capital finance etc and accounts), and any regulations made under them by the Secretary of State, apply in relation to the Commissioner of Police of the Metropolis as they apply in relation to a local authority in England—

a

section 6 (protection of lenders);

b

section 7 (meaning of “credit arrangements”);

c

sections 9 to 11 (capital receipts), except for section 11(2)(b) and (3) to (6);

d

section 13 (security for money borrowed etc);

e

section 14 (information);

f

section 15 (guidance);

g

section 16 (meaning of “capital expenditure”);

h

section 17 (external funds);

i

section 18 (companies etc), ignoring any reference to a Passenger Transport Executive;

j

section 20 (directions);

k

sections 21 and 22 (accounts).

5

Any of those provisions, or regulations made under them by the Secretary of State, that apply for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 apply also (so far as relevant) for the purposes of sub-paragraphs (1) to (3).

6

An order under section 217 of the Local Government and Public Involvement in Health Act 2007, as it has effect for the purposes of section 18(2)(b) of the Local Government Act 2003 as applied by sub-paragraph (4)(i), applies—

a

with the substitution of a reference to the Commissioner of Police of the Metropolis for a reference to a local authority, and

b

with any other necessary modifications.