Section 38 Scottish Ministers' power to pay off loans made to local authorities

Scotland

(1)

The Scottish Ministers may make to the F1Treasury, in respect of a local loan made under section 3 of the National Loans Act 1968, or to any other person payment reducing or extinguishing a local authority’s liability to the F2Treasury or, as the case may be, that other person in respect of a loan made by the Treasury or that other person to the authority for the purposes of capital expenditure.

(2)

If the Scottish Ministers make a payment in pursuance of subsection (1) above they shall—

(a)

prepare a report on their reasons for making that payment; and

(b)

lay that report before the Scottish Parliament.

Annotations

Textual amendments

F1: Words in s. 38(1) substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 85(2)(a) (with art. 9)
F2: Word in s. 38(1) substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 85(2)(b) (with art. 9)