The Public Airport Companies (Capital Finance) (Amendment) Order 2003
Part IV of the Local Government and Housing Act 1989 (c. 42) establishes a framework of capital finance controls for local authorities. Section 39 enables these controls to be extended and adapted so as to take account of the capital finance transactions of bodies under local authority control. Among these bodies are public airport companies which, under the Airports Act 1986, were established under the control of those local authorities which own their issued share capital. The Public Airport Companies (Capital Finance) Order 1996 set out the effects of the capital financing transactions of such companies for the local authority that is the controlling authority for that company under section 16(2) of the 1986 Act.