5 Questions
What is the purpose of the Local Authority Fund?
To deposit funds received by local authorities
Where should local authorities deposit the funds received in relation to the Local Authority Fund?
In a current account with a licensed bank
What can the funds in the Local Authority Fund be used for?
To open a current account for local authorities
What is the relationship between the Local Authority Fund and the funds transferred to local authorities?
The Local Authority Fund is a component of the funds transferred to local authorities
What is the authority of the local authority over the property vested in them?
Complete command and control
Test your knowledge on local authority funds and their control with this quiz. Explore the legal provisions governing the transfer of property and funds to local authorities, including the establishment of a new fund.
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