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Public Works Loans Act 1965

Consolidated Text As Enacted Cited authorities 15 Cited in Amendments 89 Related
Vincent
JurisdictionUK Non-devolved
Citation1965 c. 63
Year1965
a billing authority or a precepting authority, as defined in section 69 of the Local Government Finance Act 1992;a fire and rescue authority in Wales constituted by a scheme under section 2 of the Fire and Rescue Services Act 2004 or a scheme to which section 4 of that Act applies; a levying body within the meaning of section 74 of F23 the Local Government Finance Act 1988 ; . . . a functional body, within the meaning of the Greater London Authority Act 1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . any local authority within the meaning of the Local Government (Scotland) Act 1973, any joint board or joint committee within the meaning of that Act, andany other authority having the power to requisition any sum from any such local authority.(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) Where the F28Treasury make an agreement to which this section applies with a relevant authority other than one authorised to borrow money under F8F19section 1 of F21or paragraph 2 of Schedule 1 to, the Local Government Act 2003 (borrowing powers) or F9Schedule 3 to the Local Government (Scotland) Act 1975 then, so long as any part of the principal of and interest on the loan remains outstanding, the loan shall be a charge on all the revenues of the authority (including any grants or contributions from the Exchequer which are receivable by the authority) .(4) A charge imposed on an authority’s revenues by the last foregoing subsection shall, subject to any provision to the contrary applicable to the charge which has been made by or under any enactment, rank equally with any other charges on those revenues.(5) The enactments specified in the Schedule to this Act shall have effect subject to the adaptations and modifications set out in that Schedule, being adaptations and modifications consequential on the foregoing provisions of this section; and in that Schedule “automatic charge” means a charge imposed, for securing a loan made in pursuance of an agreement to which this section applies, by F10F20section 13 of the Local Government Act 2003 (security for money borrowed) by F11paragraph 8 of Schedule 3 to the said Act of 1975 or by subsection (3) of this section.

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