SCHEDULE 1 Capital Finance: Parish and Community Councils and Charter Trustees
Local Government Act 2003 (2003 c 26) | Legislation

SCHEDULE 1 Capital Finance: Parish and Community Councils and Charter Trustees

Section 19

Introductory

1

The following are local authorities for the purposes of this Schedule—

(a)     a parish council;

(b)     a community council;

(c)     charter trustees.

Borrowing

2

(1)     Subject to sub-paragraph (2), a local authority may borrow money—

(a)     for any purpose relevant to its functions under any enactment, or

(b)     for the purposes of the prudent management of its financial affairs.

(2)     A local authority may only borrow money (whether under sub-paragraph (1) or otherwise)—

(a)     for a purpose or class of purpose approved for the purposes of this provision by the appropriate person, and

(b)     in accordance with any conditions subject to which the approval is given.

(3)     Sub-paragraph (2) does not apply—

(a)

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