This note is not part of the order, but is intended to indicate its general effect.
This order applies section 20 of the Local Government Amendment Act (No 3) 1996 to the local authorities specified in the order.
The Local Government Amendment Act (No 3) 1996 inserts new provisions into the Local Government Act 1974 relating to the financial management and borrowing powers of local authorities. It also substitutes new sections 223D, 223E, and 223F relating to reporting by local authorities and the adoption of financial systems and reporting and record keeping procedures by local authorities. These provisions apply in relation to any financial year of a local authority beginning on or after 1 July 1998.
This order brings that date forward to 1 July 1997 in relation to the local authorities specified in the order.
The new provisions relating to the borrowing powers of local authorities require local authorities that create charges over their assets after 1 July 1998 to register the charges with the Registrar of Companies (sections 122Y and 122ZH). Any charges created before or on that date must be registered with the Registrar of Companies by 30 June 1999 (section 122ZK).
This order brings those dates forward to 1 July 1997 and 30 June 1998, respectively, in relation to the local authorities specified in the order.