S. 179 not in force at Royal Assent, see s. 255(7)

http://www.legislation.gov.uk/ukpga/2023/55/section/179Levelling-up and Regeneration Act 2023Statute Law Database2024-07-26Expert Participation2024-07-25Part 8Development corporationsFinance
179Removal of limits on borrowing of urban development corporations and new town development corporations1

In paragraph 8 of Schedule 31 to the Local Government, Planning and Land Act 1980 (aggregate limit on borrowing of urban development corporations)—

a

in sub-paragraph (1), after “sub-paragraph (2) below” insert “(save as excepted by sub-paragraph (2A))”;

b

after sub-paragraph (2) insert—

2A

But no sum which is—

a

borrowed by, or issued in fulfilment of a guarantee of a debt of, a corporation for an urban development area in England, and

b

borrowed or issued on or after the date on which section 179 of the Levelling-up and Regeneration Act 2023 comes into force,

is to count for the purposes of sub-paragraph (2)(a) or (b).

2

In section 60 of the New Towns Act 1981 (aggregate limit on borrowing of new town development corporations)—

a

in subsection (1), after “sums” insert “(save as excepted by subsection (1A))”;

b

after subsection (1) insert—

1A

No sum which—

a

is advanced to, or borrowed by, a development corporation established for the purposes of a new town in England, and

b

is advanced or borrowed on or after the date on which section 179 of the Levelling-up and Regeneration Act 2023 comes into force,

is to count for the purposes of subsection (1)(a) or (d).

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S. 179 not in force at Royal Assent, see
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179
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<p>In paragraph 8 of Schedule 31 to the Local Government, Planning and Land Act 1980 (aggregate limit on borrowing of urban development corporations)—</p>
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borrowed or issued on or after the date on which section
<a href="#section-179">179</a>
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is advanced or borrowed on or after the date on which section
<a href="#section-179">179</a>
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