{
  "url": "https://openlegislation.uk/local-authorities-companies-order-1995/article-15",
  "json_url": "https://openlegislation.uk/local-authorities-companies-order-1995/article-15.json",
  "legislation": "uksi/1995/849",
  "legislation_title": "The Local Authorities (Companies) Order 1995",
  "legislation_url": "https://openlegislation.uk/local-authorities-companies-order-1995",
  "path": "article/15",
  "kind": "article",
  "number": "15",
  "heading": "Application of Part IV: increase in the basic credit approval",
  "text": "(1) Where in a financial year (in this article referred to as the “current year”) a regulated company reduces its liabilities within the meaning of article 16, Part IV shall apply subject to the modification that the relevant authority may treat a relevant credit approval as increased by the amount relating to that company of the excess referred to in article 16(4).\n(2) In paragraph (1), the reference to a relevant credit approval is a reference to a basic credit approval issued or transferred to the authority and having effect for the financial year following the current year.\n(3) A basic credit approval may be treated as increased under paragraph (1) notwithstanding that a determination has been made under section 56(1) with respect to the whole or any part of the amount of the approval, and, where the amount of a basic credit approval is nil, the amount of the increase shall be treated as the amount of the approval.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "am (E)",
      "affecting": "uksi/2001/3042",
      "affecting_title": "The Local Authorities (Companies) (Amendment No. 2) (England) Order 2001"
    },
    {
      "type": "subst (transtl provn) (E)",
      "affecting": "uksi/2002/2298",
      "affecting_title": "The Local Authorities (Companies) (Amendment) (England) Order 2002"
    },
    {
      "type": "am (W)",
      "affecting": "wsi/2002/2118",
      "affecting_title": "The Local Authorities (Companies) (Amendment) (Wales) Order 2002"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/849/article/15",
    "retrieved_at": "2026-10-29T13:12:26.824404+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}