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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of this Order)

Part IV of the Local Government and Housing Act 1989 (“the 1989 Act”) establishes a framework of capital finance controls for local authorities. The Passenger Transport Executives (Capital Finance) Order 1990 extends and adapts these controls so as to take account of the capital finance transactions of the Passenger Transport Executives each of which is responsible under the Transport Act 1962 (c. 37) to the Passenger Transport Authority (“PTA”) for its area.

This Order amends the Passenger Transport Executives (Capital Finance) Order 1990 so that a PTA will no longer be required to make provision under Part IV of the 1989 Act for capital receipts or consideration received by its Executive.