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

Made: 27th July 1993

Laid before Parliament: 28th July 1993

Coming into force: 19th August 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[^f00001] 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[^f00002]; 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[^f00003] 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.

Signed

Tim Wood — Andrew Mackay — Two of the Lords Commissioners of Her Majesty’s Treasury — 27th July 1993

Explanatory note

(This note is not part of the Order)

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.

Footnotes

[^f00001]: 1975 c. 30.

[^f00002]: 1973 c. 65.

[^f00003]: 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).