Article G27 Interpretation of Part G
In this Part—
“approved investments” means investments approved for the purposes of Part IV of the 1989 Act by regulations made by the Secretary of State;
“local government enactment” means an enactment listed in Schedule 6 to the Police Act 1997 and regulations made under those enactments; and
“Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975f1.
For the purposes of this Part, the Authority—
incurs a liability in respect of a payment at the time when it becomes unconditionally liable to make the payment; and
discharges a liability in respect of a payment at the time when it makes the actual payment, whether or not it has at that time become unconditionally liable to do so.
In relation to a credit arrangement,—
any reference in this Part to consideration given or to be given by the Authority under the arrangement does not include a reference to any consideration which is given before the time and arrangement comes into being (as defined in article G10(3) above); and
any reference in this Part to a liability of the Authority under the arrangement does not include a reference to a liability which is met by the making of a payment before that time.
In relation to the Authority, references in this Part to proper practices are references to those accounting practices—
which the Authority is required to follow by virtue of any enactment; or
which, whether by reference to any generally recognised published code or otherwise, are regarded as proper accounting practices to be followed in the keeping of the accounts of the Authority;
but, in the event of any conflict in any respect between the practices falling within sub-paragraph (a) above and those falling within sub-paragraph (b) above, only those falling within sub-paragraph (a) above are to be regarded as proper practices.
For the avoidance of doubt, any reference in this Part to borrowing by the Authority does not include a reference to the temporary use by the Authority of money forming part of a particular fund of the Authority for a purpose other than that of the fund.
Annotations
Footnotes
- f1