Statutory Instrument 1995 No. 1041

The Local Government Reorganisation (Wales) (Capital Finance) Order 1995

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© Crown Copyright 1995

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1995 No. 1041

LOCAL GOVERNMENT, ENGLAND AND WALES
WALES

The Local Government Reorganisation (Wales) (Capital Finance) Order 1995

The Secretary of State for Wales, in exercise of the powers conferred upon him by section 54(1) and (2)(e) of the Local Government (Wales) Act 1994^[1], and of all other powers enabling him in that behalf, hereby makes the following Order:

Citation, commencement and interpretation
    1.—(1)  This Order may be cited as the Local Government Reorganisation (Wales) (Capital Finance) Order 1995 and shall come into force on 4th May 1995.

    (2)  In this Order—

"the 1989 Act" means the Local Government and Housing Act 1989^[2];


"the 1994 Act" means the Local Government (Wales) Act 1994;


"new authority" means a county or county borough council established under the 1994 Act; and


"the transitional period" means the period commencing on 4th May 1995 and ending on 31st March 1996.

Application of Part IV of the 1989 Act
    2.—(1)  Section 44(6) of the 1989 Act shall not apply to an agreement to borrow money entered into in contravention of section 51 of the 1994 Act.

    (2)  In relation to the transitional period, the other provisions of Part IV of, and Schedule 3 to, the 1989 Act shall apply to a new authority with the modifications specified in the Schedule to this Order.

Application of the Local Authorities (Capital Finance) Regulations
    3.—(1)  In relation to the transitional period, the Local Authorities (Capital Finance) Regulations 1990^[3] shall apply to a new authority as if regulations 23, 24, 25 and 26 of, and Schedules 4 and 5 to, those Regulations were omitted.

    (2)  Part II of the Schedule to the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990^[4] shall be amended by the insertion after "1. County councils." of "1A. County borough councils.".

[1] 1994 c. 19. back

[2] 1989 c. 42. back

[3] S.I. 1990/432; relevant amending instruments are S.I. 1991/500 and 1993/520. back

[4] S.I. 1990/426; amended by S.I. 1991/501. back

Explanatory Note