HL Deb 19 March 1990 vol 517 c186WA
Lord Norrie

asked Her Majesty's Government:

What progress they have made in preparing for the implementation of Part V of the Local Government and Housing Act 1989 (Local Authority Interests in Companies).

Lord Hesketh

My right honourable friend the Secretary of State for the Environment is today sending to the local authority associations a draft of an order under Part IV, and an extract of a draft order under Part V, of the Local Government and Housing Act 1989, which deal with the application to companies in which the local authority has an interest of the new capital finance system for local authorities.

These drafts make it clear that the new system of regulation of local authority interests in companies will apply from 1 st July 1990, rather than from 1 st April 1990 as earlier envisaged.

A draft of the remainder of the order under Part V and of the directions for exemption and approval under that part will be sent to the local authority associations for comment shortly.