# Local Government in Scotland Act 2003, Section 38: Scottish Ministers' power to pay off loans made to local authorities

Extent: S

(1) The Scottish Ministers may make to the Treasury, 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 Treasury 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.

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Source: https://www.legislation.gov.uk/asp/2003/1/section/38 (the official version)
Page: https://openlegislation.uk/local-government-in-scotland-act-2003/section-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.