Clause 2 - Control of borrowing
Local Government Bill
9:30 am
Mr Win Griffiths (Bridgend, Labour)
With this it will be convenient to discuss amendment No. 54, in
clause 3, page 2, line 8, leave out from beginning to end of line 23 and add—
'(2) The Chartered Institute of Public Finance and Accountancy or another accountancy body nominated by the Secretary of State shall prepare and issue a Prudential Code for Local Authority Capital Finance.
(3) The local authority shall perform its duty under subsection (1) by reference to the Prudential Code for Local Authority Capital Finance.'.