Statutory considerations

CLOSED: This discussion has concluded.


Significance and Engagement Considerations

Section 56 of the Local Government Act 2002 (LGA 2002) requires that before a local authority may establish or become a shareholder in a CCO organisation, the local authority must undertake consultation in accordance with section 82 of the LGA 2002. Although the We are not proposing to acquire shares in the LGFA, borrowing under the LGFA scheme will require it to acquire some capital issued by the LGFA that could, in some circumstances be converted into shares in the LGFA.

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