Public Works Loans Act 1965

Grants for public works.

1

New form of local loan and automatic charge for securing it.

2

• (1) The Treasury may, without first taking security under section 12 of the Public Works Loans Act 1875, enter into an agreement for making a local loan to a relevant authority under section 3 of the National Loans Act 1968; and in this section “relevant authority” means—

• (a) in relation to England and Wales,

• (i) a billing authority or a precepting authority, as defined in section 69 of the Local Government Finance Act 1992;

• (ia) 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;

• (ii) a levying body within the meaning of section 74 of the Local Government Finance Act 1988 ; . . .

• (iii) a body as regards which section 75 of that Act applies and . . .

• (iv) a functional body, within the meaning of the Greater London Authority Act 1999 ...

• (v) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (b) in Scotland—

• (i) any local authority within the meaning of the Local Government (Scotland) Act 1973,

• (ii) any joint board or joint committee within the meaning of that Act, and

• (iii) any other authority having the power to requisition any sum from any such local authority.

• (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (3) Where the Treasury make an agreement to which this section applies with a relevant authority other than one authorised to borrow money under section 1 of or paragraph 2 of Schedule 1 to, the Local Government Act 2003 (borrowing powers) or Schedule 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 section 13 of the Local Government Act 2003 (security for money borrowed) by paragraph 8 of Schedule 3 to the said Act of 1975 or by subsection (3) of this section.

Payments in lieu of stamp duty in connection with new form of loan.

3

Short title, interpretation, extent and commencement.

4

• (1) This Act may be cited as the Public Works Loans Act 1965.

• (2) In this Act, except where the context otherwise requires, references to any enactment shall be construed as references to that enactment as amended, extended or applied by or under any other enactment, including this Act.

• (3) This Act shall not extend to Northern Ireland.

• (4) This Act, except section 1, shall come into operation on the expiration of the period of three months beginning with the passing thereof.

SCHEDULE

COMMISSIONERS CLAUSES ACT 1847 — (10 & 11 Vict. c. 16)

1

Sections 75 and 81, as incorporated with any enactment applicable to a relevant authority within the meaning of section 2 of this Act, shall not apply to an automatic charge.

2

In section 82, as so incorporated or as incorporated with section 55 of the Land Drainage Act 1991, the reference to a mortgage deed shall be construed as including a reference to an agreement to which section 2 of this Act applies.

PUBLIC WORKS LOANS ACT 1875 — (38 & 39 Vict. c. 89)

3

In the following provisions, that is to say, sections 8 . . . any reference to that Act shall include a reference to section 2 of this Act.

4

In section 11 the reference to such security as is required by that Act shall be construed as including a reference to any automatic charge.

5

Section 12 shall not apply to a loan secured by an automatic charge.

6

Section 19 shall, in relation to an automatic charge, have effect as if any reference to the date of the mortgage included a reference to the date of the making of the relevant agreement and as if any reference to interest mentioned in the mortgage included a reference to interest mentioned in the agreement.

7

In section 38 the reference to any security previously given to the Treasury, and in sections 46 and 50 any reference to a security made or granted under that Act, shall include a reference to an automatic charge in their favour.

LOCAL GOVERNMENT ACT 1933 — (23 & 24 Geo. 5. c. 51)

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

In section 207—

• (a) any reference to a mortgage or to a mortgage created under Part IX of that Act shall be construed as including a reference to an automatic charge;

• (b) any reference to a deed of mortgage shall include a reference to an agreement to which section 2 of this Act applies;

• (c) the reference in subsection (2) to the date of a mortgage shall be construed as including a reference to the date of any such agreement; and

• (d) subsections (3) and (5) shall not apply in relation to any automatic charge.

LOCAL GOVERNMENT (SCOTLAND) ACT 1947 — (10 & 11 GEO. 6. c. 43)

10

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

New form of local loan and automatic charge for securing it.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Commissioners Clauses Act 1847(10 & 11 Vict. c. 16)

Public Works Loans Act 1875(38 & 39 Vict. c. 89)

Editorial notes

[^c7686811]: Act partly in force at Royal Assent; Act wholly in force at 5.11.1965 see s. 4(4)

[^c7686821]: S. 1 repealed by National Loans Act 1969 (c. 13), Sch. 6 Pt. II

[^c7687431]: S. 2 extended by Public Works Loans Act 1967 (c. 61), s. 2(1), (E.W.) Local Government Act 1972 (c. 70), Sch. 13 Pt. I para. 2(1)(f) and (S.) Local Government (Scotland) Act 1975 (c. 30), Sch. 3 para. 2(1)(f) S. 2 applied (S.)(temp. 14.11.1995 to 31.3.1996) by S.I. 1995/2766, art. 2(1)

[^c7687441]: 1875 c. 89.

[^c7687451]: S. 2(1)(a)(i)–(iii) substituted (E.W.) for words by S.I. 1990/776, art. 8, Sch. 3 para. 10

[^c7687481]: Word in s. 2(1)(a) repealed (3.7.2000) by 1999 c. 29, ss. 139(2), 423, Sch. 34 Pt. I (with Sch. 12 para.9(1); S.I 1999/3434, art. 4, Sch. 2 Table 2

[^c7687491]: S. 2(1)(a)(iv) and word “and” immediately preceding added (3.7.2000) by 1999 c. 29, s. 139(2) (with Sch. 12 para. 9(1)); S.I. 1999/3434, art. 4, Sch. 2 Table 2

[^c7687501]: Word in s. 2(1)(a) repealed (1.4.2001) by 1999 c. 22, s. 106, Sch. 15 Pt. V(6) (with Sch. 14 paras. 7(2), 36(9)); S.I. 2001/916, art. 2(c)(i)

[^c7687521]: S. 2(1)(b)(i)–(iii) substituted (S.) for s. 2(1)(b) by Abolition of Domestic Rates Etc. (Scotland) Act 1987 (c. 47, SIF 81:2, 103:2), ss. 2, 6, Sch. 1 Pt. III para 22

[^c7687531]: 1973 c. 65.

[^c7687541]: S. 2(2) repealed (E.W.) by Local Government Act 1972 (c. 70), Sch 30 and (S.) by Local Government (Scotland) Act 1975 (c. 30), Sch. 7

[^c7687551]: S. 2(3) restricted by Public Works Loans Act 1967 (c. 61), s. 2(2)

[^c7687561]: Words substituted by virtue of Local Government and Housing Act 1989 (c. 42, SIF 81:1), ss. 194(1), 195(2), Sch. 11 para. 6(a) (subject to a saving in S.I. 1990/431, Sch. 1 para. 1(c)

[^c7687571]: Words substituted by Local Government (Scotland) Act 1975 (c. 30), Sch. 6 Pt. II para. 30(b)

[^c7687581]: 1975 c. 30.

[^c7687591]: S. 2(5) modified by Public Works Loans Act 1967 (c. 61), s. 2(2)(b)

[^c7687601]: Words substituted by virtue of Local Government and Housing Act 1989 (c. 42, SIF 81:1), ss. 194(1), 195(2), Sch. 11 para. 6(b) (subject to a saving in S.I. 1990/431, Sch. 1 para. 1(c)

[^c7687611]: Words substituted by Local Government (Scotland) Act 1975 (c. 30), s. 38(1), Sch. 6 Pt. II para. 30(c)

[^c7687621]: S. 3 repealed by Finance Act 1967 (c. 54), Sch. 16 Pt. VII

[^c7687651]: This version of this provision extends to Scotland only; a separate version has been created for England and Wales only.

[^c7687661]: Words substituted by Land Drainage Act 1976 (c. 70), Sch. 7 para. 6

[^c7687671]: 1976 c. 70.

[^c7687681]: Sch. para. 1: Words in Sch. 1 para. 1 expressed to be substituted (E.W.) (1.12.1991) by Water Consolidation (Consequential Provisions) Act 1991 (c. 60, SIF 130), ss. 2, 4(2), Sch. 1 para. 15(a)

[^c7687691]: This version of this provision extends to Scotland only; a separate version has been created for England and Wales only.

[^c7687701]: Sch. para. 2: Words in Sch. 1 para. 2 expressed to be inserted (E.W.) (1.12.1991) by Water Consolidation (Consequential Provisions) Act 1991 (c. 60, SIF 130), ss. 2, 4(2), Sch. 1 para. 15(b)

[^c7687711]: Words repealed by Public Works Loans Act 1967 (c. 61), s. 2(3)

[^c7687721]: Sch. paras. 8, 9 repealed by Local Government Act 1972 (c. 70), Sch. 30

[^c7687731]: Sch. para. 10 repealed by Local Government (Scotland) Act 1975 (c. 30), Sch. 7

[^key-bba2166ffd36db0e0da7fcbff9ec3d4e]: Words in s. 2(3) substituted (27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004, 1.4.2004 for E.) by Local Government Act 2003 (c. 26), s. 128(6), Sch. 7 para. 2(a); S.I. 2003/2938, art. 7(a) (with art. 8 Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I