Section 4 Borrowing powers of Receiver.C2
United Kingdom
The Receiver may, with the approval of the Secretary of State given with the consent of the Treasury, borrow on the security described in this section any money required—
for acquiring any land or erecting any buildings;
for the execution of any works or the provision of any equipment the cost of which ought in the opinion of the Secretary of State to be spread over a term of years.
The security referred to in the foregoing subsection, in respect of money borrowed thereunder for the purposes F1of the magistrates’ courts acting for petty sessions areas falling wholly within the inner London boroughs, F2. . . F3. . . is the sums for the raising of which the Receiver is authorised by section one hundred and twenty-one of the M1Local Government Act 1948, to issue a precept in relation to expenses incurred for those purposes respectively.
The enactments described in the Schedule to this Act (being enactments relating to the borrowing powers of the Receiver) are hereby repealed to the extent specified in the third column of that Schedule; but without prejudice to section thirty eight of the M2Interpretation Act 1889, the repeal by this subsection of those enactments shall not affect their operation as respects money borrowed thereunder.
Annotations
Textual amendments
- F1
Words in s. 4 substituted (31.7.2000) by 1999 c. 22, s. 78, Sch. 11 paras. 14, 16 (with Sch. 14 para. 7(2)); S.I. 2000/1920, art. 3(a)
- F2
Words in s. 4(2) repealed (1.4.2001) by 2000 c. 43, s. 75, Sch. 8; S.I. 2001/919, art. 2(g)
- F3
Words in s. 4(2) repealed (3.7.2000) by 1999 c. 29, ss. 325, 423, Sch. 27 para. 16, Sch. 34 Pt. VII (with Sch. 12 para. 9(1)); S.I. 2000/1648, art. 2, Sch.
Marginal citations
- M1
- M2
Modifications
- C1
S. 4(3) amended by virtue of 1978 c. 30, s. 25(2)
- C2
S. 4: By virtue of 1964 c. 42, Sch. 3 para. 2 a reference to the metropolitan magistrates' court is to be construed as a reference to a magistrates court for the inner London area