{
  "url": "https://openlegislation.uk/local-government-act-2003/section-1",
  "json_url": "https://openlegislation.uk/local-government-act-2003/section-1.json",
  "legislation": "ukpga/2003/26",
  "legislation_title": "Local Government Act 2003",
  "legislation_url": "https://openlegislation.uk/local-government-act-2003",
  "path": "section/1",
  "kind": "section",
  "number": "1",
  "heading": "Power to borrow",
  "text": "A local authority may borrow money—\n(a) for any purpose relevant to its functions under any enactment, or\n(b) for the purposes of the prudent management of its financial affairs.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 1 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)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "S. 1 in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/26/section/1",
    "retrieved_at": "2026-10-29T09:18:07.059359+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."
}