# Local Government Act 2003, Section 12: Power to invest


A local authority may invest—
(a) for any purpose relevant to its functions under any enactment, or
(b) for the purposes of the prudent management of its financial affairs.
This is subject to a direction under section 12A (risk-mitigation directions).

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Source: https://www.legislation.gov.uk/ukpga/2003/26/section/12 (the official version)
Page: https://openlegislation.uk/local-government-act-2003/section-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.