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LOCAL GOVERNMENT ACT (NORTHERN IRELAND) 1972 - SECT 64

Priority of securities.

64.(1) Subject to subsection (2), all securities created by a council shall
rank equally without any priority.

(2) Nothing in this section shall affect any priority existing at, or any
right to priority conferred by a security created before, 13th December 1949.

(3) For the purposes of this section a right in respect of money borrowed by a
council by any of the methods mentioned in section 62 shall be deemed to be a
security, notwithstanding that it is not evidenced in writing.


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© 1972 Crown Copyright

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