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The Local Authorities (Capital Finance) (Prescribed Bodies) Regulations 1990

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Statutory Instruments

1990 No. 404

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Authorities (Capital Finance) (Prescribed Bodies) Regulations 1990

Made

2nd March 1990

Laid before Parliament

8th March 1990

Coming into force

1st April 1990

The Secretary of State for the Environment, in exercise of the powers conferred on him by section 39(3) and (4) of the Local Government and Housing Act 1989(1), and of all other powers enabling him in that behalf, hereby makes the following Regulations:

1.  These Regulations may be cited as the Local Authorities (Capital Finance) (Prescribed Bodies) Regulations 1990 and shall come into force on 1st April 1990.

2.  The following levying bodies, within the meaning of section 74 of the Local Government Finance Act 1988(2), are hereby prescribed for the purposes of section 39(1)(k) of the Local Government and Housing Act 1989—

(a)the London Pensions Fund Authority(3), and

(b)the South Yorkshire Pensions Authority(4).

3.  Part IV of the Local Government and Housing Act 1989 shall have effect in relation to the bodies prescribed by regulation 2 subject to the modification that the word “may” shall be substituted for the word “shall” in section 53(1).

Chris Patten

Secretary of State for the Environment

2nd March 1990

Explanatory Note

(This note is not part of the Regulations)

These Regulations prescribe the London Pensions Fund Authority and the South Yorkshire Pensions Authority as bodies to which the new capital finance system for local authorities under Part IV of the Local Government and Housing Act 1989 is to apply, subject to the modification specified in regulation 3.

(3)

The London Pensions Fund Authority was established by the London Government Reorganisation (Pensions etc.) Order 1989 (S.I. 1989/1815).

(4)

The South Yorkshire Pensions Authority was established by the Local Government Reorganisation (Pensions etc.) (South Yorkshire) Order 1987 (S.I. 1987/2110).

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