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The Local Government (Scotland) Act 1975 (Local Authority Borrowing Limit) Order 1993

S.I. 1993/1900 · Made 27 July 1993

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

LOCAL GOVERNMENT, SCOTLAND

Made 27th July 1993

Laid before Parliament 28th July 1993

Coming into force 19th August 1993

The Treasury, in exercise of the powers conferred on them by section 16 of and paragraph 6(2)(a) of Schedule 3 to the Local Government (Scotland) Act 1975f1 and of all other powers enabling them in that behalf, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1975 c. 30.

Contents

  1. 1Citation, commencement and interpretation
  2. 2Local authority borrowing limit
  3. Signature
  4. Explanatory note

1Citation, commencement and interpretation

(1)

This Order may be cited as the Local Government (Scotland) Act 1975 (Local Authority Borrowing Limit) Order 1993 and shall come into force on 19th August 1993.

(2)

In this Order–

  • “local authority” has the meaning ascribed to it in section 235(1) of the Local Government (Scotland) Act 1973f1; and

  • “year” has the meaning ascribed to it in section 37(1) of the Local Government (Scotland) Act 1975.

2Local authority borrowing limit

The aggregate of the amount outstanding on bills issued by a local authority under paragraph 6(1) of Schedule 3 to the Local Government (Scotland) Act 1975 shall not under paragraph 6(2)(a) of Schedule 3 to the Actf1 exceed a sum equal to one third of the authority’s estimated gross income from rates, the council tax and the council water charge during the current year.

Signature

Tim Wood

Andrew Mackay

Two of the Lords Commissioners of Her Majesty’s Treasury

27th July 1993

Explanatory note

(This note is not part of the Order)

The Order increases the amount which a local authority in Scotland may borrow by the issue of bills under paragraph 6(1) of Schedule 3 to the Local Government (Scotland) Act 1975 to a sum equal to one third of its estimated gross yearly income from rates, the council tax and the council water charge.