Local Authorities (Miscellaneous Provisions) Act, 1936
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Interpretation of Section 3 of the Local Authorities (Financial Provisions) Act, 1921. |
11.—(1) Notwithstanding anything contained in any other section of this Act, the expression “local authority” has in this section the same meaning as it has in the Local Authorities (Financial Provisions) Act, 1921 . | |
(2) The payment by a local authority of annual or other periodical instalments of principal and interest or principal only or interest only in respect of money borrowed by such local authority and the payment of arrears of any such instalments shall be and be deemed always to have been current expenses of such local authority within the meaning of section 3 of the Local Authorities (Financial Provisions) Act, 1921 , as amended by subsequent enactments, and accordingly it shall be and be deemed always to have been lawful for a local authority to borrow or re-borrow under that section for the purpose of paying any such instalment. | ||
(3) All references in section 3 of the Local Authorities (Financial Provisions) Act, 1921 , to borrowing by a local authority shall be construed and have effect and be deemed always to have had effect as including re-borrowing. |