{
  "url": "https://openlegislation.uk/local-government-reorganisation-debt-administration-merseyside-order-1988/article-11",
  "json_url": "https://openlegislation.uk/local-government-reorganisation-debt-administration-merseyside-order-1988/article-11.json",
  "legislation": "uksi/1988/452",
  "legislation_title": "The Local Government Reorganisation (Debt Administration) (Merseyside) Order 1988",
  "legislation_url": "https://openlegislation.uk/local-government-reorganisation-debt-administration-merseyside-order-1988",
  "path": "article/11",
  "kind": "article",
  "number": "11",
  "heading": "Early repayment",
  "text": "(1) A relevant authority may, after giving to the designated council at least 60 days' notice in writing of its intention to do so—\n(a) repay the whole of the principal sum outstanding in respect of its deemed borrowing; or\n(b) on the 31st March in any year, repay any part of that sum.\n(2) The designated council may at any time discharge the whole of the balance of its transferred debt or may, on the 31st March in any year, discharge any part of that balance.\n(3) Where a relevant authority makes an early repayment under paragraph (1)(b), the amount of future repayments of principal shall be calculated by dividing the amount of its deemed borrowing which remains unpaid at the end of the day on which the early repayment was made by a figure which represents the number of years after that day until the end of the repayment period.\n(4) Where a relevant authority makes an early repayment under paragraph (1)(a) before 31st March in any financial year, the amount of interest to be paid in respect of that year shall be the relevant proportion of the amount that would otherwise have been payable in accordance with article 9(1).\n(5) Where the designated council makes an early repayment of part of the balance of its transferred debt, paragraph (3) above shall apply as if it referred to the designated council, to repayments under paragraph (2) above and to future payments under article 8(3)(b). Where the designated council makes an early repayment of the whole of the balance of its transferred debt before 31st March in any financial year, paragraph (4) above shall apply as if it referred to the designated council, to a repayment under paragraph (2) above and to amounts payable by virtue of article 9(2).\n(6) For the purposes of paragraph (4), the relevant proportion is the same proportion as that which the number of days in the period beginning with the first day of the financial year in which the early repayment is made and ending with the day on which that repayment is made bears to the number of days in the financial year.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/452/article/11",
    "retrieved_at": "2026-10-29T16:10:10.541148+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."
}