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ARRANGEMENT OF CLAUSES.
Clause. 1. Powers of county and large borough or urban
district councils to trade or hold land. 2. Sanction of council to any proposed undertaking. 3. Borrowing powers.
Board of Trade to sanction undertakings without
the area of the council. 5. Combination of councils for purposes of Act. 6. Disposal of undertaking. 7. Powers of smaller borough or district and parish
councils. 8. Profits from land and undertakings to go to the
common fund. Common fund not to be used
in lieu of rates. 9. Accounts and application of common fund. 10. Definitions. 11. Saving 12. Short title.
B I L L
Extend the Powers of Local Authorities in matters
of Finance and Municipal Trading.
E it enacted by the King's most Excellent Majesty, A.D. 1923.
by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the 5 same, as follows :
1.4(1) Save as in this Act provided, it shall be Powers of lawful for the council of every county and of every county and borough and urban district, having a population according large to the last published census for the time being of twenty urban
borough or 10 thousand or over, including the city of London, and district
every metropolitan borough (herein referred to as the councils to council), to establish or purchase or carry on any busi- trade or ness or undertaking within their area having for its hold land.
purpose either the acquisition of gain or the promotion 15 of commerce, art, science, recreation, charity, or any
other object which might lawfully be established or carried on by a company, limited or unlimited, or association duly incorporated and duly acting under the
provisions of the Companies (Consolidation) Act, 1908. 20 (2) Save as in this Act provided, a council may
purchase or hold land within their area in such quantities and for such purposes as they think fit.
2. No council shall establish or purchase any land, Sanction of business or undertaking which they would not, save for council to 25 this Act, have been otherwise entitled to establish or any propurchase, unless it has been decided so to do by a reso
underlution of a majority of the members of the council in
A.D. 1923. attendance at a meeting of the council, of which due
notice has been given in the manner provided in section
of that Act. Borrowing
3. A council may, for the purpose of defraying any 5 powers. costs, charges, or expenses incurred or to be incurred by
them in the establishment, purchase, or carrying on of
made by the Board of Trade and confirmed by Parliament. Board of
4. The Board of Trade may, by Provisional Order, Trade to authorise any council, under such conditions as the 25
Board of Trade may prescribe, to establish or purchase under
or carry on any business or undertaking, or to purchase
taking carried on, or to be carried on, by a council within
5. Any two or more councils may, under such 35 tion of
conditions as may be mutually agreed upon, jointly councils for establish, purchase, or carry on a business or undertaking purposes of Act.
or purchase or hold land under this Act. Disposal of
6. A council shall not, without the sanction of the under- Board of Trade, sell or lease for a longer period than 40 taking
seven years, any land, business, or undertaking estab-