Examples of LGA 2003 in a sentence
Julie Green gave an update and said that construction should commence by the end of summer.
The Council has the power under section 1 of the Local Government Act 2003 (LGA 2003) to borrow for any purpose relevant to its functions under any enactment or for the purposes of the prudent management of its financial affairs.
Students and the severely mentally impaired became exempt from joint and several liability with effect from 1 April 2004 (section 74, LGA 2003).
The Council has the power under section 12 of the LGA 2003 to invest for any purpose relevant to its functions under any enactment or for the purposes of the prudent management of its financial affairs.
Sections 25-29 of the LGA 2003 are about ensuring Council’s make allowance for risk and uncertainty in their budgets and regularly monitor their budgets.
LGA 2003 s13 Security for money borrowed is provided below: 1) Except as provided by subsection (3), a local authority may not mortgage or charge any of its property as security for money which it has borrowed or which it otherwise owes.
This report fulfils the PCC’s legal obligation under the Local Government Act 2003 to have regard to the CIPFA Code.Under Section 3 of the LGA 2003 (duty to determine affordable borrowing limit), a Local Authority must have regard to the CIPFA Prudential Code.
In our engagement with the Council, section 12 LGA 2003 is one of the powers on which it is said that the Council could have relied.
All loans made to other Local Authorities are based on the Local Government Act (LGA) 2003 s13, which outlines that the credit risk attached to English, Welsh and Scottish local authorities is an acceptable one.
This term is defined in that guidance as a “transaction which relies upon the power in section 12 [LGA 2003] and is recorded in the balance sheet under the heading of investments within current assets or long-term investments”.