This statutory instrument establishes the financial framework and regulatory requirements for public airport companies operating within England and Wales under the Local Government Act. The document provides the legal mandate for local authorities to manage airport assets through corporate structures, detailing the specific financial constraints and reporting obligations imposed by the government. It serves as a regulatory mechanism to ensure that public airport entities adhere to national standards of fiscal accountability and administrative oversight.

Legal professionals and government administrators utilize this text as a primary source for understanding the specific legislative constraints placed on public airport finance in 1990. Experts note that the document is highly technical and intended strictly for regulatory compliance and legal reference.