Local Authorities Loans (Scotland) Act 1924
| Jurisdiction | UK Non-devolved |
| Citation | 1924 c. 36 |
| Year | 1924 |
Local Authorities Loans (Scotland) Act, 1924
(14 & 15 Geo. 5.) CHAPTER 36.
An Act to amend the Local Authorities Loans (Scotland) Acts, 1891 and 1893.
[7th August 1924]
Be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Amendment of Local Authorities Loans \(Scotland) Acts, 1891 and 1893, as to issue of stock.
(1) The Secretary for Scotland may make regulations under section three of the Local Authorities Loans (Scotland) Act (1891) Amendment Act, 1893 , authorising the creation and issue from time to time by any local authority who shall, whether before or after the passing of this Act, have issued stock under the Local Authorities Loans (Scotland) Acts, 1891 and 1893, of stock of a different class from any stock already issued by that authority, and on different terms and conditions, including the rate of dividend payable and the period after which the same shall become redeemable, and the Secretary for Scotland may by such regulations direct that the provisions of the said Acts shall apply to stock issued in pursuance of the regulations, subject to such modifications as may be specified in the regulations.
(2) Notwithstanding anything contained in the Local Authorities Loans (Scotland) Acts, 1891 and 1893, it shall be lawful for a local authority, with the sanction of the Secretary for Scotland, to issue stock in accordance with the provisions of the said Acts at such price lower than ninety-five per centum as the Secretary for Scotland may approve.
2 Short title and construction.
2. This Act may be cited as theLocal Authorities...
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