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Local Government Loans Act, 1953 🇰🇪

Kenya

Table of Contents

REPUBLIC OF KENYA

Local Government Loans Act, 1953

Act 9 of 1953

  • Assented to on 20 March 1953
  • Commenced on 20 March 1953
  • [This is the version of this document from 20 March 1953.]
An Act of Parliament to facilitate the borrowing by local government authorities of money for capital development, to establish a Local Government Loans Authority and a Fund for that purpose; and for purposes connected therewith.

1. Short title

This Act may be cited as the Local Government Loans Act.

2. Interpretation

In this Act, except where the context otherwise requires—“statutory securities” means securities in which trustees are for the time being authorised by law to invest trust moneys, and any security created by a local authority other than securities transferable by delivery;“the Authority” means the Local Government Loans Authority established by section 3 of this Act;“the Fund” means the Local Government Loans Fund established by section 6 of this Act.

3. Establishment and constitution of Local Government …

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