Section 428 — Housing Act 1985: Continuance of certain powers to borrow for housing purposes.

Continuance of certain powers to borrow for housing purposes. 428 1 A local authority may borrow for any of the purposes for which borrowing was, before the commencement of this Act, authorised by— section 136(1) of the Housing Act 1957, section 54(1) of the Housing (Financial Provisions) Act 1958, or paragraph 19 of Schedule 8 to the Housing Act 1969.

2 The maximum period which may be sanctioned as the period for which money may be borrowed for any of those purposes by the Common Council of the City of London is 80 years, notwithstanding the provisions of any Act of Parliament.