Statutory Instrument 1993 No. 1900

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

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1993 No. 1900

LOCAL GOVERNMENT, SCOTLAND

The Local Government (Scotland) Act 1975 (Local Authority Borrowing Limit) Order 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 1975^[1] and of all other powers enabling them in that behalf, hereby make the following Order:

Citation, commencement and interpretation
    1.—(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 1973^[2]; and
"year" has the meaning ascribed to it in section 37(1) of the Local Government (Scotland) Act 1975.

Local authority borrowing limit
    2.    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 Act^[3] 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.

Tim Wood

Andrew Mackay

Two of the Lords Commissioners of Her Majesty's Treasury

27th July 1993

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.

[1] 1975 c. 30. back

[2] 1973 c. 65. back

[3] Paragraph 6(2)(a) of Schedule 3 was amended by paragraph 34 of Schedule 1 to the Abolition of Domestic Rates (Scotland) Act 1987 (c. 47) and by paragraph 44(a) of Schedule 13 to the Local Government Finance Act 1992 (c. 14). back