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LOCAL GOVERNMENT ACT 2009 - SECT 286
Administration of sinking fund for liquidation of current borrowings
286 Administration of sinking fund for liquidation of current borrowings
(1) The corporation continued in existence by the 1993 Act , under the name
‘Trustees of the Local Governments Debt Redemption Fund’ (the
"Trustees" ) is continued in existence.
(2) The Trustees are responsible for
administering the sinking funds for the liquidation of amounts borrowed by
local governments before this section commences.
(3) The 1936 Act , section
28 (15) continues to apply to the Trustees with any necessary changes, and any
changes prescribed under a regulation.
(4) The Trustees are a statutory body
for the Statutory Bodies Financial Arrangements Act .
(5) Part 2B of that Act
sets out the way in which that Act affects the Trustees’ powers.
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