LOCAL GOVERNMENT ACT 2009 - SECT 286 Administration of sinking fund for liquidation of current borrowings

LOCAL GOVERNMENT ACT 2009 - SECT 286

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.