The Local Authority (Stocks and Bonds) (Amendment) Regulations 1986

• Citation: S.I. 1986/345
• Sections: 4

Section 1

These regulations may be cited as the Local Authority (Stocks and Bonds) (Amendment) Regulations 1986 and shall come into operation on 1st April 1986.

Section 2

The Local Authority (Stocks and Bonds) Regulations 1974 shall be amended in accordance with regulations 3 and 4 below.

Section 3

In regulation 1(3)—

(a) for the definition of “local authority” there shall be substituted the following definition:

“ local authority ” means a county council, a district council, a London borough council, a parish or community council, the Inner London Education Authority, a joint authority established by Part IV of the Local Government Act 1985 , a residuary body established by Part VII of that Act or an authority established by the Waste Regulation and Disposal (Authorities) Order 1985 ;

and

(b) there shall be added at the end,

and any reference to stocks or bonds issued by a local authority includes a reference to stocks or bonds the liability for which is for the time being vested in a local authority (being stocks or bonds issued by an authority which was abolished by section 1(1) of the Local Government Act 1985).

Section 4

In Schedule 2 for the words “Greater London Council” there shall be substituted the words “London Residuary Body” .