The Public Works Loans (Fees) (Amendment) Regulations 1991

Made: 26th April 1991

Laid before Parliament: 10th May 1991

Coming into force: 1st June 1991

The Treasury, in exercise of the powers conferred on them by section2(3) of the Local Authorities Loans Act 1945[^f00001] and of all other powers enabling them in that behalf, andafter consultation with the Public Works Loan Commissioners, hereby makethe following Regulations:

1

These Regulations may be cited as the Public Works Loans (Fees)(Amendment) Regulations 1991, and shall come into force on 1st June1991.

2

The Public Works Loans (Fees) Regulations 1961[^f00002]shall be amended by substituting the following paragraphfor paragraph (2) of regulation 1—

(2) The fees payable under these Regulations shall be paid before theadvance is made, except that in a case in which the Commissioners andthe borrower have agreed that payment shall be made by way of adeduction from the advance at the time it is made, the payment shall bemade at that time.

Signed

Thomas Sackville — Sydney Chapman — Two of the Lords Commissioners of Her Majesty’s Treasury — 26th April 1991

Explanatory note

(This note is not part of the Regulations)

These Regulations, which amend the Public Works Loans (Fees)Regulations 1961, provide for the payment of fees before an advance ismade, or, where it has been agreed that payment is to be made bydeduction from the advance, at the time of the advance.

Footnotes

[^f00001]: 1945 c. 18.

[^f00002]: S.I. 1961/1087, amended by S.I. 1982/1089.