Clause 17 - External funds
Local Government Bill
2:30 pm
Mr John Pugh (Southport, Liberal Democrat)
I should like some clarification about the phrase ''external fund''. I am familiar with arrangements where local authorities act as trustees for organisations working in the regeneration and
renewal area. In effect they are not simply trustees but co-funders of a scheme. When I initially read the clause I thought that the phrase ''external fund'' embraced such factors. I now understand that it does not and that it is meant exclusively to embrace pension funds and the like. But the definition of external funds seems inexact, or in fact unformulated, in the legislation. Will the Minister consider the necessity of tightening it to exclude other forms of external finance to local authorities?