The Local Authorities (Capital Finance) Regulations 1997

(l0H) and in this paragraph, “relevant agreement or award” means an agreement under section 76 of the Environment Act 1995 (agreements as to incidental matters)[^f00107] or an award under subsection (3) of that section. (1) In paragraphs 10I and 10J— - “the Board” means the Lake District Special Planning Board or the Peak Park Joint Planning Board; - “excluded Park arrangement” means any credit arrangement which is of a description excluded by regulations made by the Secretary of State under paragraph 11(2)[^f00105], and vests in a National Park authority by virtue of a relevant agreement or award or by virtue of article 15 of the National Park Authorities (England) Order 1996[^f00106] (“the Order”); - “National Park authority” has the same meaning as in article 2 of the Order; - “Park arrangement” means any credit arrangement, other than an excluded Park arrangement, which vests in a National Park authority by virtue of a relevant agreement or award or by virtue of article 15 of the Order; - “relevant borrowing” means borrowed money which a National Park authority is liable to repay by virtue of a relevant agreement or award or by virtue of article 15 of the Order; and - “relevant council”, in relation to a National Park authority, means the council which, pursuant to paragraph 8 of Schedule 17 to the Local Government Act 1972, appointed the National Park Committee for the Park for which the authority is established; (10I) (1) Where, in relation to a National Park authority, the specified amount for the relevant council on 31st March 1997 is a positive amount, the credit ceiling of the National Park authority on that day shall be increased by that amount, and the credit ceiling of the relevant council on that day shall be reduced by the same amount. (2) Where, in relation to a National Park authority, the specified amount for the relevant council on 31st March 1997 is a negative amount, the credit ceiling of the National Park authority on that day shall be reduced by that amount, and the credit ceiling of the relevant council on that day shall be increased by the same amount. (3) In relation to the National Park authority established for the Park for which a Board was established— (a) where the specified amount for the Board on 31st March 1997 is a positive amount, the credit ceiling of the National Park authority on that day shall be increased by that amount; and (b) where the specified amount for the Board on 31st March 1997 is a negative amount, the credit ceiling of the National Park authority on that day shall be reduced by that amount. (10J) (1) For the purposes of paragraph 10I, in relation to a National Park authority— (a) the specified amount for the relevant council or a Board on 31st March in any of the years 1991 to 1997 shall be determined— (i) by adding to the specified amount for the council or the Board on 31st March in the immediately preceding year the specified increase for the council or the Board for the financial year in question; and (ii) by subtracting from the resulting sum the specified decrease for the council or the Board for that financial year; and (b) the specified amount for the relevant council or a Board on 31st March 1990 shall be nil. (2) For the purpose of sub-paragraph (1), the specified increase for the relevant council or a Board for any financial year is the amount by which their credit ceiling is increased in that year by the use of credit approvals to any extent as mentioned in section 56(3) in respect of— (a) their Park arrangements; and (b) any expenditure for capital purposes which is defrayed out of relevant borrowing. (3) For the purposes of sub-paragraph (1), the specified decrease for the relevant council or a Board for any financial year is the total of the following amounts— (a) four per cent. of the specified amount for the council or the Board for 31st March in the financial year immediately preceding the financial year in question; (b) the amount which is applied or charged by the council or the Board (as an amount of credit cover) as mentioned in paragraph (b) or (c) of section 50(3) in relation to any excluded Park arrangements; and (c) in relation to any Park arrangements and any excluded Park arrangements, the amount set aside by the council or the Board from a revenue account or from the usable part of capital receipts as provision to meet credit liabilities being an amount over and above the aggregate of— (i) the amount referred to in sub-paragraph (b); and (ii) the amount which, in relation to such arrangements, the council or the Board are required so to set aside by virtue of any provision of this Act or any regulations made under this Act..

Excluded credit arrangements

General exclusion for leases of land

122

• (1) In this regulation, in relation to a credit arrangement which is a lease of land (a “lease”)—

• “the authority” means the local authority who become the lessees under the lease; and

• “relevant date” means the date on which the authority become the lessees under the lease.

• (2) A lease shall be excluded for the purposes of paragraph 11(2) of Schedule 3 to the Act if, on the relevant date, the authority estimate that in every financial year beginning after that date the value of the consideration falling to be given by them in respect of the lease will be not less than the amount which would fall to be paid by them if—

• (a) where they acquired the lease otherwise than by a grant, the lease had been granted on the relevant date for a period equal to the period of the lease which is unexpired on that date;

• (b) the only consideration falling to be given by them for the grant of the lease consisted of annual payments of rent; and

• (c) each such payment had been determined on the relevant date and on the open market.

• (3) For the purposes of this regulation, in any case where the consideration in respect of a lease consists, in whole or in part of—

• (a) an undertaking to do or refrain from doing something at a future time (whether specified or not), or

• (b) a right to do or refrain from doing something at a future time,

that consideration shall not be regarded as having been given until the undertaking is performed or, as the case may be, the right is exercised.

Exclusion for private finance transactions

123

• (1) A credit arrangement to which paragraph (2) applies shall be excluded for the purposes of paragraph 11(2) of Schedule 3 to the Act.

• (2) This paragraph applies to a credit arrangement where—

• (a) the arrangement is a private finance transaction for the purposes of Part IV of these Regulations;

• (b) paragraph (3) applies to the local authority who enter into the arrangement; and

• (c) as authority to enter into the arrangement, the authority determine to use a supplementary credit approval which applies only for the purposes of the arrangement.

• (3) This paragraph applies to a local authority whose credit ceiling, as determined under Part III of Schedule 3 to the Act, is nil or a negative amount at the beginning of the financial year in which the credit arrangement is entered into, and who have no money outstanding by way of borrowing other than disregarded borrowing within the meaning given to that expression in regulation 65.

PART XI — THE ADJUSTED CREDIT CEILING

Adjusted credit ceiling

124

At any time on or after 1st April 1997, a local authority’s adjusted credit ceiling shall be their credit ceiling at that time, as determined under Part III of Schedule 3 to the Act, subject to the modifications prescribed for the purposes of Part IV of that Schedule in the following provisions of this Part.

Basis of determination

125

The starting point for determining a local authority’s adjusted credit ceiling on 1st April 1997 shall be the amount which was the authority’s adjusted credit ceiling on 31st March 1997.

Amounts set aside—transferred property and deemed borrowing

126

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 59(1) of the reserved part of a capital receipt where the sum received is a capital receipt by virtue of regulation 56, 57 or 58, and the reserved part is 100 per cent. by virtue of regulation 68.

Amounts set aside—transferred debt of designated councils

127

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 63(1) of any amount which, for the purposes of regulation 131, the authority are required to determine under regulation 135 (transferred debt of designated councils).

Amounts set aside—advances to housing associations

128

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 59(1) of the reserved part of a sum received which is a capital receipt by virtue of section 58(1) (c) or (d), and is paid in respect of an advance made by the authority on or before 30th September 1989—

• (a) to a housing association (within the meaning given to that expression in section 1 of the Housing Associations Act 1985[^f00108]); and

• (b) for the purposes of expenditure in respect of which the association in question received a grant under section 50 of the Housing Act 1988[^f00109], section 41(1) of the Housing Associations Act 1985[^f00110] or section 29(1) of the Housing Act 1974[^f00111].

Amounts set aside—interests in a regulated company

129

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside of any amount which the authority determine to set aside as credit cover in accordance with article 14 of the Local Authorities (Companies) Order 1995[^f00112].

PART XII — MINIMUM REVENUE PROVISION

Preliminary provisions

Interpretation

130

In this Part—

• “the authority” means a local authority who are determining the amount of their minimum revenue provision;

• “the current year” means any financial year for which a local authority are determining the amount of their minimum revenue provision;

• “housing purposes” means purposes for which any expenditure incurred by a local authority and charged to a revenue account would be charged (as required under Part VI of the Act) to the authority’s Housing Revenue Account or Housing Repairs Account;

• “the last year” means the financial year beginning one year before the beginning of the current year;

• “relevant credit approval” means any supplementary credit approval other than one issued in respect of expenditure which is treated as expenditure for capital purposes by virtue only of directions under section 40(6) (capital purposes); and

• “the year before the last year” means the financial year beginning two years before the beginning of the current year.

The components of minimum revenue provision

Minimum revenue provision for financial years beginning after 31st March 1997

131

Subject to regulation 138, for the financial year beginning on 1st April 1997 and every subsequent financial year of a local authority, the amount in respect of principal for the purposes of paragraph 15(1) of Schedule 3 to the Act shall be the aggregate of all amounts which the authority is required to determine under regulations 132 to 137.

Percentage of the housing amount and non-housing amount

132

• (1) If the authority are required (under Part VI of the Act) to keep a Housing Revenue Account for the current year, they shall determine the amount which is equal to the sum of two per cent. of their housing amount and four per cent. of their non-housing amount.

• (2) In this Part, in relation to any such authority, except for the financial year beginning on 1st April 1997—

• (a) the housing amount is an amount determined in accordance with provisions of this Part referring to the authority’s housing component on the last day of the last year;

• (b) the housing component on the last day of the last year is an amount determined in accordance with provisions of this Part referring to components of the authority’s adjusted credit ceiling which are attributable to the exercise of housing functions;

• (c) the non-housing amount is an amount determined in accordance with provisions of this Part referring to the authority’s non-housing component on the last day of the last year; and

• (d) the non-housing component on the last day of the last year is an amount determined in accordance with provisions of this Part referring to components of the authority’s adjusted credit ceiling which are attributable to the exercise of functions other than housing functions.

Percentage of the relevant amount

133

• (1) If the authority are not required to keep a Housing Revenue Account for the current year, they shall determine the amount equal to four per cent. of their relevant amount.

• (2) In this Part, except for the financial year beginning on 1st April 1997, the relevant amount of any such authority is an amount determined in accordance with provisions of this Part referring to compenents of the authority’s adjusted credit ceiling.

Outstanding advances from a loans fund

134

• (1) In this regulation—

• “limited approval” means an approval given by the Secretary of State under paragraph 1(b) of Schedule 13 to the Local Government Act 1972[^f00113] subject to a condition that the borrowing approved would be repaid within 10 years after the date of the approval; and

• “relevant period”, in relation to an advance from a loans fund, means the period beginning on 1st April 1990 and ending on the last day of the financial year in which the money borrowed by virtue of the limited approval for the advance is due to be repaid.

• (2) The authority shall determine the total amount, if any, which would fall to be repaid by them in the current year in respect of their advances from a loans fund, if they had been required to repay the principal of each such advance outstanding on 1st April 1990 before the end of the relevant period by equal annual instalments.

• (3) For the purposes of paragraph (2), an advance from a loans fund is an advance which was—

• (a) made before 1st April 1990 from a loans fund established by the authority under paragraph 15 of Schedule 13 to the Local Government Act 1972;

• (b) made by virtue of a limited approval for a purpose or class of purpose for which the approval had been given; and

• (c) not fully repaid to the loans fund before 1st April 1990.

Transferred debt of designated councils

135

If the authority are a designated council under an order made under section 66(1) or 67(3) of the Local Government Act 1985 (discharge of residuary functions)[^f00114], they shall determine an amount equal to the total of any payments in respect of principal which fall to be made by them in the current year into a fund in relation to money which, by virtue of the order, is treated as their transferred debt.

Use of certain credit approvals

136

• (1) In this regulation—

• “credit approval” means any supplementary credit approval issued to the authority in respect of expenditure which is treated as expenditure for capital purposes by virtue only of directions under section 40(6); and

• “relevant amount” means an amount equal to the extent to which a credit approval has, during any financial year before the current year, been used as mentioned in section 56(3).

• (2) The authority shall determine the total amount which would fall to be repaid by them in the current year in respect of the credit approvals issued to them, if, in relation to each such approval, they had been required to repay each relevant amount by equal annual instalments before the end of the amortisation period specified in the approval.

Use of amounts set aside to meet liabilities under credit arrangements which had an initial cost of nil

137

• (1) In this regulation, “amount set aside” has the same meaning as in Part XIII of these Regulations.

• (2) The authority shall determine the total of all amounts set aside, if any, which were applied by them in the last year for the purpose described in section 64(1)(b) (use of amounts set aside to meet credit liabilities) in respect of relevant credit arrangements.

• (3) For the purposes of paragraph (2), a credit arrangement is a relevant credit arrangement if its initial cost was nil and, at the time an amount set aside is applied to meet any liability of the authority in respect of it, it has not been varied as mentioned in section 51(1) (variation of credit arrangements).

Commutation of periodic payments

Commutation adjustments to minimum revenue provision

138

• (1) Subject to paragraph (2), where—

• (a) any debt of the authority to the Public Works Loan Commissioners was reduced or extinguished by a commuted payment (within the meaning which that expression has in section 157) paid by the Secretary of State to the Commissioners in the financial year beginning on 1st April 1992, or

• (b) the Secretary of State paid a commuted payment to the authority in that financial year,

the authority shall determine the amount in respect of principal for the purposes of paragraph 15(1)(a) of Schedule 3 to the Act in accordance with the following formula—

$$P-A$ where— “P” is the amount which would have been the amount in respect of principal for the current year if the determination under regulation 131 had not been subject to adjustment under this regulation; and “A” is the amount of the authority’s commutation adjustment for the current year determined in accordance with Part II of Schedule 2 to these Regulations.$

• (2) For the purposes of paragraph (1), where amount “A” exceeds amount “P”, the amount in respect of principal for the purposes of paragraph 15(1)(a) of Schedule 3 to the Act shall be nil.

The housing amount and non-housing amount

Basis of determination

139

• (1) Where, for the purposes of this Part, the authority are required to have regard to the housing component of their adjusted credit ceiling on 31st March 1997, they shall have regard to the amount determined under paragraph 3(5) of Schedule 5 to the 1990 Regulations in relation to their housing amount for the financial year beginning on 1st April 1997.

• (2) Where, for the purposes of this Part, the authority are required to have regard to the non-housing component of their adjusted credit ceiling on 31st March 1997, they shall have regard to the amount determined under paragraph 5(5) of Schedule 5 to the 1990 Regulations in relation to their non-housing amount for the financial year beginning on 1st April 1997.

Housing and non-housing amounts for financial year beginning 1st April 1997

140

• (1) The authority’s housing amount for the financial year beginning on 1st April 1997 shall be an amount equal to the housing amount for that year determined under paragraph 3(1) of Schedule 5 to the 1990 Regulations.

• (2) The authority’s non-housing amount for the financial year beginning on 1st April 1997 shall be an amount equal to the non-housing amount for that year determined under paragraph 5(1) of Schedule 5 to the 1990 Regulations.

Housing and non-housing amounts for subsequent financial years

141

Subject to regulation 142, where the current year is the financial year beginning on 1st April 1998 or any subsequent financial year, the authority’s housing amount for the current year shall be equal to their housing component on the last day of the last year, and the authority’s non-housing amount for the current year shall be equal to their non-housing component on that day.

General provisions affecting the determination of housing and non-housing amounts

142

• (1) The housing amount and the non-housing amount of a local authority for any financial year may be nil, but not less than nil.

• (2) Where—

• (a) the current year is the financial year beginning on 1st April 1998 or any subsequent financial year, and

• (b) on the last day of the last year the authority’s housing component is greater than nil and their non-housing component is less than nil,

the housing amount for the current year shall, subject to paragraph (1), be reduced by the amount by which the non-housing component is less than nil.

• (3) Where—

• (a) the current year is the financial year beginning on 1st April 1998 or any subsequent financial year, and

• (b) on the last day of the last year the authority’s non-housing component is greater than nil and their housing component is less than nil,

the non-housing amount for the current year shall, subject to paragraph (1), be reduced by the amount by which the housing component is less than nil.

The housing component for subsequent financial years

Determining the housing component

143

• (1) For the purposes of regulation 141, the authority shall determine the housing component on the last day of the last year by deducting their housing reduction in the last year from the aggregate of—

• (a) their housing component on the last day of the year before the last year;

• (b) their housing increase in the last year; and

• (c) the amount, if any, determined in accordance with regulation 146.

• (2) The authority’s housing component may, by virtue of paragraph (1), be nil or a negative amount.

Determining the housing reduction

144

• (1) In this regulation, “relevant amounts” means any amounts falling to be set aside—

• (a) under section 59(1) or 61(4) by virtue of the disposal of a house, dwelling or other property to which section 74(1) (duty to keep Housing Revenue Account) applied immediately before the disposal; or

• (b) in accordance with a determination under section 50(3)(c) or 60(2) referring to a credit arrangement which—

• (i) is of a description excluded by regulations made by the Secretary of State under paragraph 11(2) of Schedule 3 to the Act; and

• (ii) was entered into for housing purposes.

• (2) For the purposes of regulation 143, the authority’s housing reduction in the last year is the aggregate of—

• (a) if the authority’s housing component on the last day of the year before the last year is a positive amount, two per cent. of that amount; and

• (b) the amount, if any, by which the authority’s adjusted credit ceiling was reduced during the last year by the setting aside of relevant amounts as provision to meet credit liabilities.

Determining the housing increase

145

For the purposes of regulation 143, the authority’s housing increase in the last year is the amount, if any, by which their adjusted credit ceiling was increased during that year by the use of relevant credit approvals to any extent as mentioned in section 56(3) in respect of—

• (a) any expenditure for housing purposes; or

• (b) any credit arrangement entered into for housing purposes.

Increase in housing component where minimum revenue provision in the last year was nil

146

For the purposes of regulation 143, where the authority’s minimum revenue provision for the last year was nil by virtue of paragraph 15(2) of Schedule 3 to the Act, the authority shall determine the amount which they would have set aside in the last year, if their credit ceiling on the last day of the year before the last year had been greater than nil, by virtue of—

• (a) regulation 134, in respect of any advances made for the purpose of meeting expenditure which, if it had been incurred after 1st April 1990, would have been for housing purposes; and

• (b) regulation 136, in respect of the use of supplementary credit approvals to any extent as mentioned in section 56(3) in respect of—

• (i) expenditure for housing purposes; and

• (ii) credit arrangements entered into for housing purposes.

The non-housing component for subsequent financial years

Determining the non-housing component

147

• (1) For the purposes of regulation 141, the authority shall determine the non-housing component on the last day of the last year by deducting their non-housing reduction in the last year from the aggregate of—

• (a) their non-housing component on the last day of the year before the last year;

• (b) their non-housing increase in the last year; and

• (c) the amount, if any, determined in accordance with regulation 150.

• (2) The authority’s non-housing component may, by virtue of paragraph (1), be nil or a negative amount.

Determining the non-housing reduction

148

• (1) In order to determine their non-housing reduction for the last year, the authority shall determine—

• (a) the total amount (“amount A”) by which their adjusted credit ceiling was reduced during the last year under paragraphs 12(1) and 14(1) of Schedule 3 to the Act;

• (b) the total amount (“amount B”) by which their adjusted credit ceiling was reduced during that year by the setting aside of any amounts determined under regulations 134 and 136; and

• (c) the amount (“amount C”) by which amount A exceeds amount B.

• (2) For the purposes of regulation 147, the authority’s non-housing reduction in the last year is the amount, if any, by which amount C exceeds the housing reduction determined in accordance with regulation 144.

Determining the non-housing increase

149

• (1) In order to determine their non-housing increase for the last year, the authority shall determine the total amount by which their adjusted credit ceiling was increased during the last year—

• (a) by the use of relevant credit approvals to any extent as mentioned in section 56(3);

• (b) under paragraph 14(2) of Schedule 3 to the Act; and

• (c) under regulation 118.

• (2) For the purposes of regulation 147, the authority’s non-housing increase in the last year is the amount determined in accordance with the formula

$$X-Y+Z$ where— “X” means the total amount determined in accordance with paragraph (1); “Y” means the housing increase determined in accordance with regulation 145; and “Z” means the amount, if any, by which the housing reduction determined in accordance with regulation 144 exceeds the amount determined for amount C under regulation 148(1).$

Increase in non-housing component where minimum revenue provision in the last year was nil

150

For the purposes of regulation 147, where the authority’s minimum revenue provision for the last year was nil by virtue of paragraph 15(2) of Schedule 3 to the Act, the authority shall determine the amount which they would have set aside in the last year, if their credit ceiling on the last day of the year before the last year had been greater than nil, by virtue of—

• (a) regulation 134, in respect of any advances made for the purpose of meeting expenditure which, if it had been incurred after 1st April 1990, would have been for any purpose other than housing purposes; and

• (b) regulation 136, in respect of the use of supplementary credit approvals to any extent as mentioned in section 56(3) in respect of—

• (i) expenditure for any purpose other than housing purposes; and

• (ii) credit arrangements entered into for any purpose other than housing purposes.

The relevant amount

Relevant amount for financial year beginning 1st April 1997

151

The authority’s relevant amount for the financial year beginning on 1st April 1997 shall be the amount determined to be the relevant amount for that year under paragraph 8 of Schedule 5 to the 1990 Regulations.

Relevant amount for subsequent financial years

152

Where the current year is the financial year beginning on 1st April 1998 or any subsequent financial year, the authority’s relevant amount for the current year shall be an amount equal to their adjusted credit ceiling on the last day of the last year minus the amount, if any, determined by the authority under regulation 153.

Adjustment for certain amounts set aside under separate provision

153

The authority shall determine the amount by which amount A exceeds amount B where—

• (a) amount A is the aggregate of—

• (i) so much of the amount determined in accordance with paragraph 8(1)(a) of Schedule 3 to the Act as relates to advances which are advances from a loans fund within the meaning given to that expression in regulation 134; and

• (ii) so much of the amount of any supplementary credit approvals falling within section 54(5) as has been used by the authority as mentioned in section 56(3) in any financial year before the current year; and

• (b) amount B is the aggregate of—

• (i) any amounts set aside by the authority in any financial year before the current year by virtue of regulation 134 and 136 or regulation 26(1)(b) and (c) of the 1990 Regulations; and

• (ii) if, by virtue of paragraph 15(2) of Schedule 3 to the Act, the authority’s minimum revenue provision for such a financial year is nil, the amounts which, by virtue of those regulations, the authority would have set aside in that year if their credit ceiling had been greater than nil.

PART XIII — USE OF AMOUNTS SET ASIDE TO MEET CREDIT LIABILITIES

Interpretation

154

• (1) In this Part—

• “amount set aside” means any amount for the time being set aside by a local authority (whether voluntarily or pursuant to a requirement under Part IV of the Act) as provision to meet credit liabilities;

• “Health Authority” means an authority established by order under section 8 of the National Health Authorities Act 1977 (Health Authorities)[^f00115];

• “relevant date” shall be construed in accordance with section 64(4);

• “relevant expenditure”, in relation to the transfer of an amount set aside, means the expenditure which is to be met by the amount transferred; and

• “Special Health Authority” means a body established by order under section 11 of the National Health Authorities Act 1977 (Special Health Authorities)[^f00116].

• (2) For the purposes of this Part, a local authority are a relevant authority if—

• (a) on the relevant date for any financial year, their credit ceiling, as determined under Part III of Schedule 3 to the Act, is a negative amount; and

• (b) they have no money outstanding by way of borrowing other than disregarded borrowing within the meaning given to that expression in regulation 65.

Use of amounts set aside in respect of certain capital receipts

155

An amount set aside in respect of a capital receipt to which regulation 71 applies may be applied by a relevant authority under section 64(2)(a) to meet any expenditure for capital purposes which is incurred by the authority for the purposes of or in connection with—

• (a) the Central Criminal Court;

• (b) the police, probation or magistrates' court services; or

• (c) any functions of the authority conferred under section 2 of the Civil Defence Act 1948[^f00117].

Use of amounts set aside—expenditure for capital purposes

156

• (1) In this regulation, “excluded expenditure” means expenditure for capital purposes on the making of a grant, an advance or other financial assistance which—

• (a) is to a housing association (within the meaning given to that expression in section 1 of the Housing Associations Act 1985[^f00118]); and

• (b) is towards expenditure for which the housing association receive or have received a grant under section 18 of the Housing Act 1996[^f00119], section 50 of the Housing Act 1988[^f00120], section 41(1) of the Housing Associations Act 1985[^f00121] or section 29(1) of the Housing Act 1974[^f00122].

• (2) An amount set aside, other than an amount set aside in respect of a capital receipt to which regulation 71 applies, may be applied by a relevant authority under section 64(2)(a) to meet any expenditure for capital purposes other than excluded expenditure.

Use of amounts set aside—revenue expenditure

157

• (1) Subject to the condition specified in paragraph (3), where paragraph (2) applies to a local authority, an amount set aside may be applied by the authority under section 64(2)(a) to meet any expenditure which, in accordance with section 41, is to be charged to a revenue account of the authority.

• (2) This paragraph applies to a local authority if, on the relevant date for any financial year, their credit ceiling, as determined under Part III of Schedule 3 to the Act, is a negative amount and if—

• (a) any debt of the authority to the Public Works Loan Commissioners was reduced or extinguished by a commuted payment (within the meaning which that expression has in section 157) paid by the Secretary of State to the Commissioners in the financial year beginning on 1st April 1992; or

• (b) the Secretary of State paid a commuted payment to the authority in that financial year.

• (3) In applying an amount set aside as mentioned in paragraph (1), a local authority shall ensure that the total amount so applied in any financial year does not exceed the amount of the authority’s commutation adjustment for that year determined in accordance with Part II of Schedule 2 to these Regulations.

Transfer of amounts set aside

158

Subject to the condition specified in regulation 159, an amount set aside may be transferred by a relevant authority under section 64(2)(b) in any of the following cases to a body specified for the case in question—

• (a) in the case of a relevant authority which is one of the councils specified in section 39 (1) (a) to (e) (application of Part IV of the Act) [^f00123], to a Health Authority or a Special Health Authority acting within the relevant authority’s area;

• (b) in the case of a relevant authority which is a county council, a district council, a county borough council or the Council of the Isles of Scilly, to the police authority whose police area as listed in Schedule 1 to the Police Act 1996[^f00124] includes the relevant authority’s area;

• (c) in the case of a relevant authority which is a non-metropolitan district council, to the county council for the district;

• (d) in the case of a relevant authority which is a metropolitan district council, to the fire and civil defence authority established by Part IV of the Local Government Act 1985[^f00125] of which the relevant authority is a constituent council;

• (e) in the case of a relevant authority which is a London borough council or the Common Council of the City of London, to the London Fire and Civil Defence Authority established by Part IV of the Local Government Act 1985;

• (f) in the case of a relevant authority which is a county council, county borough council or non-metropolitan district council, to a combined fire authority constituted by a combination scheme under the Fire Services Act 1947[^f00126] (“a combined fire authority”) of which the relevant authority is a constituent council;

• (g) in the case of a relevant authority which is a combined fire authority, to a constituent council of the relevant authority;

• (h) in the case of a relevant authority which is a London borough council or the Common Council of the City of London or a metropolitan district council, to an authority established by order under section 10(1) of the Local Government Act 1985 (“a waste disposal authority”) of which the relevant authority is a constituent council; and

• (i) in the case of a relevant authority which is a waste disposal authority, to a constituent council of the relevant authority.

Conditions specified in relation to the transfer of amounts set aside

159

• (1) In transferring an amount set aside to a body mentioned in regulation 158 (“the transferee”), and in respect of any amount so transferred, a relevant authority shall comply with the conditions specified in paragraphs (2) and (3).

• (2) A relevant authority shall not, in any financial year (“the current year”), transfer an amount set aside unless they are satisfied that the relevant expenditure—

• (a) is expenditure for capital purposes;

• (b) in the case of an amount set aside in respect of a capital receipt to which regulation 71 applies, is for the purposes of or in connection with any of the matters mentioned in regulation 155;

• (c) is not excluded expenditure within the meaning given to that expression in regulation 156;

• (d) has been, or is to be, incurred in the current year or in the financial year immediately preceding or immediately following the current year; and

• (e) is in connection with the exercise by the transferee of functions which are substantially for the benefit of the whole or any part of the relevant authority’s area.

• (3) In relation to any transfer of an amount set aside—

• (a) where, at the time of the transfer, the relevant expenditure has not been incurred, the amount transferred by the relevant authority shall not exceed 50 per cent. of the transferee’s estimate of that expenditure; and

• (b) subject to paragraph (4), where, at the time of the transfer, the relevant expenditure has already been incurred, the amount transferred by the relevant authority shall not exceed 50 per cent. of the amount of that expenditure.

• (4) For the purposes of paragraph (3) (b), in determining the amount of the relevant expenditure incurred, the relevant authority shall disregard any expenditure for which an amount set aside has already been transferred in reliance upon an estimate provided by the transferee.

PART XIV — SUPPLEMENTARY PROVISIONS

Interpretation of Part IV of the Act—references to loans and borrowing

160

• (1) Any reference in Part IV of the Act to a loan to or borrowing (or money borrowed) by a local authority (“the current authority”) includes a reference to a loan to or borrowing (or money borrowed) by another authority (“the original authority”) if the original authority’s liabilities in respect of the loan to or borrowing (or money borrowed) by them have become those of the current authority under or by virtue of—

• (a) an order made under section 23(3) or 84 of the London Government Act 1963 (transfer of land held for housing purposes)[^f00127];

• (b) an order made under section 51(2), 58(2), 67(4) or 254(1) or (2)(a) or (d) of, or paragraph 7 of Schedule 10 to, the Local Government Act 1972[^f00128] or regulations made under section 67(1) or (2) of that Act;

• (c) an order made under section 66(1) or 67(3) of the Local Government Act 1985 (discharge of residuary functions)[^f00129];

• (d) section 25(6) of the Local Government Act 1985 (Northumbria Police Authority)[^f00130];

• (e) the Local Government Changes for England (Property Transfer and Transitional Payments) Regulations 1995[^f00131];

• (f) article 9 of the Police and Magistrates' Courts Act 1994 (Commencement No. 5 and Transitional Provisions) Order[^f00132]; or

• (g) the Local Government Reorganisation (Wales) (Property etc.) Order 1996[^f00133].

• (2) Any reference in Part IV of the Act to a loan to or borrowing (or money borrowed) by a local authority does not include a reference to a loan to or borrowing (or money borrowed) by that authority if their liabilities in respect of the loan or borrowing (or money borrowed) have become those of another authority by virtue of—

• (a) an order made under section 51(2), 58(2) or 67(4) of, or paragraph 7 of Schedule 10 to, the Local Government Act 1972 or regulations made under section 67(1) or (2) of that Act; or

• (b) article 9 of the Police and Magistrates' Courts Act 1994 (Commencement No. 5 and Transitional Provisions) Order 1994.

Approved investments

161

Regulation 1(2) of the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990[^f00134] shall be amended, in the definition of “relevant lender”, by the substitution of “paragraph 28, 29 or 30” for “paragraph 28 or 29”.

Revocations

162

Subject to the savings mentioned in regulation 163—

• (a) regulation 15 of the Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1996[^f00135] is revoked; and

• (b) the subordinate legislation specified in Schedule 3 to these Regulations shall be revoked on 1st April 1997 to the extent specified in the third column of that Schedule.

Savings

163

• (1) Any provisions of the 1990 Regulations under which a local authority are required to determine any amount for any financial year ending before 1st April 1997 shall continue to have effect for the purpose only of the determination of all such amounts.

• (2) The following provisions of the 1990 Regulations shall continue to have effect for the purpose only of the determination by a local authority of the amounts referred to in regulations 139, 140 and 151—

• (a) Parts II and III of Schedule 5; and

• (b) any other provision by reference to which the authority determine in accordance with those Parts of that Schedule the housing component and non-housing component of their adjusted credit ceiling on 31st March 1997, and their housing amount, non-housing amount and relevant amount for the financial year beginning on 1st April 1997.

• (3) Where, for any financial year, a local authority have not yet made the calculation required by virtue of paragraph 7 of Schedule 6 to the 1990 Regulations, Part IV of that Schedule shall continue to have effect for the purpose only of the making of the necessary calculation.

SCHEDULE 1 — USE OF LAND FOR A SPECIFIED PURPOSE

In relation to a local authority’s use of land, a purpose is specified in a category of this Schedule if it falls within any of the following categories, or if a dwelling is situated on the land and the purpose is use as a dwelling by a person employed for a purpose falling within any of the following categories except category 10—

1

the fire service or police service, the magistrates' courts services, the probation service, or the functions conferred on the authority under section 2 of the Civil Defence Act 1948[^f00136]

2

a hostel for the homeless, or the social services functions of a local authority within the meaning given to that expression in the Local Authority Social Services Act 1970[^f00137];

3

a school, or an institution providing further education, or training, or education for adults;

4

an archive, a library, a museum or an art gallery;

5

a community hall, a conference centre, a theatre, a concert hall, a leisure centre or other indoor recreation, a swimming pool, or a pier;

6

a bus station, a vehicle depot, a garage, or a public park for cars, caravans, lorries or other vehicles;

7

an allotment, a smallholding, a cemetery, a playing field (other than a school playing field), a golf course, or a park or other public open space;

8

an industrial unit, a dog compound, a market, a public convenience, or the disposal of waste, or (except so far as falling within any other category) a workshop, a kitchen, a warehouse, or the storage of goods or equipment;

9

a town hall, or local authority offices (other than offices which fall within any other category); or

10

a house or other dwelling provided by a local authority for a person in their employment who is entitled to occupy it as as a term of his employment (other than a dwelling falling within any of the preceding categories).

SCHEDULE 2 — MINIMUM REVENUE PROVISION SAVINGS AND COMMUTATION ADJUSTMENTS

PART 1 — Interpretation

1

In this Schedule—

• “the authority”, “the current year”, “the housing amount” and “the last year” have the same meanings as in Part XII of these Regulations;

• “commuted payment” means a commuted payment[^f00138] (within the meaning which that expression has in section 157) which, in the financial year beginning on 1st April 1992, was paid to the authority, or to the Public Works Loans Commissioners to reduce or extinguish any debt of the authority;

• “periodic payment” means any annual or other periodic payment in relation to which a commuted payment was determined; and

• “relevant debt” means— the amount by which any debt of the authority to the Public Works Loan Commissioners was reduced by a commuted payment; or where such a debt was extinguished by a commuted payment, the amount of the debt.

PART 2 — Commutation Adjustments

2

The authority’s commutation adjustment for the current year shall be determined in accordance with the formula—

$$G-(M+I+IR)$ where— “G” is the aggregate of the following amounts— where commuted payments were calculated by the Secretary of State on the basis of calculations of periodic payments contained in a notice given by the authority, the amount of periodic payments which, according to the notice, the authority would have received in the current year if no payments had been commuted; and the total amount, if any, calculated by the authority for the current year in accordance with Part IV of Schedule 6 to the 1990 Regulations; “I” is the amount of interest savings determined in accordance with paragraph 6; “IR” is the amount in respect of interest determined in accordance with paragraph 9; and “M” is the amount of the authority’s minimum revenue provision savings determined for the current year in accordance with Part 3 of this Schedule.$

PART 3 — Minimum Revenue Provision Savings

3

Subject to paragraph 5, where the authority’s adjusted credit ceiling on the last day of the last year was a negative amount, the authority’s minimum revenue provision savings for the current year shall be determined in accordance with the formula—

$$([ACC+(D-MC)]×4100)-H$ where— “ACC” is the authority’s adjusted credit ceiling on the last day of the last year; “D” is the total amount of the authority’s relevant debts; “H” is two per cent. of the amount, if any, by which the authority’s housing amount for the current year is reduced in consequence of— the setting aside of any amount in accordance with section 63(2) in respect of a commuted payment; or any reduction in the authority’s credit ceiling by virtue of the making of a commuted payment to the Public Works Loan Commissioners[^f00139]; and “MC” is an amount equal to the aggregate of— the authority’s minimum revenue provision savings determined in accordance with Part II of Schedule 6 to the 1990 Regulations[^f00140] for the financial years beginning on the 1st April 1992, 1993, 1994, 1995 and 1996; where the current year is a financial year beginning after 31st March 1998, the authority’s minimum revenue provision savings determined for the financial year ending on that date and for any other financial year ending before the beginning of the current year; the authority’s commutation adjustments determined in accordance with Part III of Schedule 6 to the 1990 Regulations for the financial years beginning on 1st April 1992, 1993, 1994, 1995 and 1996; and where the current year is a financial year beginning after 31st March 1998, the authority’s commutation adjustment determined for the financial year ending on that date and for any other financial year ending before the beginning of the current year.$

4

Subject to paragraph 5, where the authority’s adjusted credit ceiling on the last day of the last year was nil or a positive amount, the authority’s mimimum revenue provision savings for the current year shall be determined in accordance with the formula—

$$([D-MC]×4100)-H$ where “D”, “H” and “MC” have the same meanings as in paragraph 3.$

5

The authority’s mimimum revenue provision savings for the current year may be nil but shall not be a negative amount.

PART 4 — INTEREST SAVINGS AND THE AMOUNT IN RESPECT OF INTEREST

6

Subject to paragraph 8, for the purposes of Part 2 of this Schedule, the amount of the authority’s interest savings for the current year shall be determined in accordance with the formula—

$$(D-MC)×DID$ where— “D” and “MC” have the same meanings as in paragraph 4; and “DI” is the aggregate of the amounts calculated in accordance with paragraph 7.$

7

In order to calculate item “DI” in the formula in paragraph 6, the authority shall calculate for each relevant debt an amount equal to the percentage of the debt which was chargeable by way of interest on the debt on the date on which the debt was reduced or extinguished by a commuted payment.

8

The authority’s interest savings for the current year may be nil but shall not be a negative amount.

9

Subject to paragraph 10, for the purposes of Part 2 of this Schedule, the amount in respect of interest for the current year shall be determined in accordance with the formula—

$$(S-T)×R$ where— “S” is the total amount set aside by the authority under section 63(2) as provision to meet credit liabilities in respect of any commuted payments paid to them under section 157(1)(a); “T” is the total amount which, at any time before the beginning of the current year, has been applied by the authority under section 64(2) for the purpose mentioned in regulation 157(1); and “R” is a rate of interest which is expressed as a percentage with no more than three decimal places, and is equal to 0.125 per cent. less than the arithmetical mean of the London Inter-Bank Bid rates of interest for three month deposits published during the last year, at monthly intervals, by The Stationery Office.$

10

The amount in respect of interest for the current year may be nil but shall not be a negative amount.

SCHEDULE 3 — SUBORDINATE LEGISLATION REVOKED

Year and Number	Title	Extent of revocation
1990/432	The Local Authorities (Capital Finance) Regulations 1990	All the Regulations
1990/1273	The Local Authorities (Capital Finance) (Amendment) Regulations 1990	All the Regulations
1991/500	The Local Authorities (Capital Finance) (Amendment) Regulations 1991	All the Regulations
1992/502	The Local Authorities (Capital Finance) (Amendment) Regulations 1992	All the Regulations
1992/1618	The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1992	All the Regulations
1992/2819	The Local Authorities (Capital Finance) (Amendment) (No. 3) Regulations 1992	All the Regulations
1992/3257	The Local Authorities (Capital Finance) (Amendment) (No. 4) Regulations 1992	All the Regulations
1993/520	The Local Authorities (Capital Finance) (Amendment) Regulations 1993	All the Regulations
1993/2014	The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1993	All the Regulations
1993/3054	The Local Authorities (Capital Finance) (Amendment) (No. 3) Regulations 1993	All the Regulations
1994/553	The Local Authorities (Capital Finance) (Amendment) Regulations 1994	All the Regulations
1995/850	The Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1995	All the Regulations except regulation 13
1995/1526	The Local Authorities (Capital Finance) (Amendment) Regulations 1995	All the Regulations
1995/1982	The Local Authorities (Capital Finance and Approved Investments) (Amendment No. 2) Regulations 1995	All the Regulations except regulation 12
1996/568	The Local Authorities (Capital Finance) (Amendment) Regulations 1996	All the Regulations except regulations 15 and 16
1996/2121	The Local Authorities (Capital Finance) (Amendment No. 2) Regulations 1996	All the Regulations
1996/2539	The Local Authorities (Capital Finance) (Amendment No. 3) Regulations 1996	All the Regulations

Signed

Signed by authority of the Secretary of State for the Environment

David Curry — Minister of State, — Department of the Environment — 12th February 1997

Signed by authority of the Secretary of State for Wales

Gwilym Jones — Parliamentary Under-Secretary of State, Welsh Office — 12th February 1997

Explanatory note

(This note is not part of the Regulations)

These Regulations, which are made under Part IV of the Local Government and Housing Act 1989 (“the Act”), consolidate with amendments the Local Authorities (Capital Finance) Regulations 1990 and subsequent amending instruments, and are concerned with the capital finance system for local authorities which has been in operation since 1st April 1990. The Regulations apply to England and Wales, and apart from regulations 120 and 121 (which provide for the adjustment of certain authorities' credit ceilings), and regulation 162 (which provides for the revocation of the 1990 Regulations as amended), come into force on 1st April 1997.

Part II of the Regulations amends the definition of expenditure for capital purposes provided in section 40 of the Act. The main change made by the Regulations is that it is provided that all expenditure under a transaction which is entered into by a local authority for the purposes of the Private Finance Initiative and has the features specified in regulation 17 (a “private finance transaction”) shall be expenditure for capital purposes.

The main features of a private finance transaction are that—

• (a) the transaction is for the provision of land, other than land which is for use for housing purposes, or of any other asset (including works), and of services in relation to the authority’s use of the land or the asset;

• (b) the authority begin to pay fees by instalments after they have begun to use the land or the asset; and

• (c) the amount of fees payable depends on standards attained in the performance of the services or the extent, rate or intensity of use of the asset for its intended purpose.

Part IV of the Regulations makes provision in respect of credit arrangements, which under section 48(1) of the Act comprise any lease, any contract under which a local authority are to give the consideration which is due from them after they have received the consideration which is due to them, and any transaction of a description prescribed in regulations. Private finance transactions are prescribed in regulation 17. Regulations 18 to 25 specify descriptions of leases and contracts which are not to be credit arrangements.

Local authorities are required under Part IV of the Act to have available an amount of credit cover when they enter into or vary a credit arrangement. Such an amount may be obtained by using a credit approval or by setting aside an amount as provision for credit liabilities. Regulations 26 to 51 make special provision for calculating the amount required as credit cover in respect of leases and certain other transactions.

The main changes made by the Regulations in respect of the requirement for credit cover for credit arrangements are as follows—

• (1) A lease entered into under the provisions of a private finance transaction has a nil initial cost.

• (2) The lease of a dwelling-house which is for use as accommodation for homeless persons has a nil initial cost if the term of the lease does not exceed ten years.

• (3) Certain leases acquired by the National Park authorities established under the National Park Authorities (England) Order 1996 and by the councils which formerly exercised the functions of those authorities have a nil initial cost.

• (4) A private finance transaction which has the features specified in regulation 40 has a nil initial cost.

• (5) The initial cost of a private finance transaction is reduced if it is for the replacement or enhancement of a building and the provision of heating services or for the provision of a building and heating services.

Part V of the Regulations specifies contributions and subsidies (“specified capital grants”) which, under section 57 of the Act, are to result in the reduction or extinguishment of credit approvals issued to a local authority. Credit approvals, which are issued to local authorities under sections 53 and 54 of the Act, enable an authority to enter into or vary credit arrangements and not to charge expenditure to a revenue account. Changes are made by the Regulations to the contributions and subsidies which are to be specified capital grants. Different provision is made for local authorities in England and local authorities in Wales.

Parts VI, VII and VIII of the Regulations relate to capital receipts. Section 58 of the Act specifies sums which, when received by a local authority, are capital receipts. Part VI of the Regulations specifies further sums which are to be capital receipts and sums which are not to be capital receipts.

Section 59 of the Act requires a local authority to set aside part of a capital receipt (“the reserved part”) as provision to meet credit liabilities. Part VII of the Regulations specifies the percentage which is the reserved part in the case of different descriptions of capital receipts and disposals.

Part VIII of the Regulations provides for different descriptions of capital receipts to be treated as reduced for the purposes of determining the reserved part. The main changes made in this Part to the treatment of capital receipts are as follows—

• (1) Regulations 86 to 93 make provision for treating as reduced certain capital receipts derived from disposals of land made to assist regeneration in areas of need.

• (2) Regulations 94 and 95 make provision for treating as reduced certain capital receipts derived from disposals of land improved out of moneys provided by Parliament or the Urban Regeneration Agency.

Section 61 of the Act requires a local authority to set aside (as provision to meet credit liabilities) part of a capital receipt not wholly in money paid to them. Part IX of the Regulations makes further provision for determining the amount falling to be set aside in respect of notional capital receipts. Regulation 106 provides that notional capital receipts are to be treated in broadly the same way as capital receipts. Regulations 107 to 114 specify descriptions of non-monetary consideration in respect of which the amount falling to be set aside is to be nil.

Part X of the Regulations makes provision in respect of a local authority’s credit ceiling, which is one of the components of the aggregate credit limit and is determined, subject to prescribed modifications, in accordance with paragraphs 11 to 14 of Schedule 3 to the Act. Modifications are prescribed in regulations 115 to 121. By virtue of regulations 122 and 123, no account is to be taken of certain credit arrangements in determining the credit ceiling.

The main changes made by the Regulations in respect of credit ceilings are as follows—

• (1) If a local authority fulfil specified conditions relating to the level of debt, their credit ceiling is not to be increased when they use a credit approval to meet expenditure out of amounts set aside to meet credit liabilities.

• (2) The credit ceilings of the National Park authorities in England and of the councils which formerly exercised the functions of those authorities are modified.

Part XI of the Regulations makes provision for the adjustment of the credit ceiling for the purpose of determining the minimum amount to be set aside by a local authority from their revenue account or accounts as provision to meet credit liabilities (minimum revenue provision).

Part XII of the Regulations makes provision for determining a local authority’s minimum revenue provision. Regulation 138 and Schedule 2 to the Regulations provide for minimum revenue provision to be adjusted to take account of the commutation of periodic payments under section 157 of the Act. Regulations 139 to 150 make provision for determining the housing and non-housing amounts which are relevant to the determination of minimum revenue provision for local housing authorities. Regulations 151, 152 and 153 make provision for determining the relevant amount which is relevant to the determination of minimum revenue provision for other local authorities.

Part XIII of the Regulations makes provision for the use under section 64 of the Act of amounts set aside as provision to meet credit liabilites. Such amounts may be applied for specified purposes or transferred to specified bodies by local authorities which fulfil specified conditions relating to the level of debt. Different provision is made for different cases and different descriptions of authority. Regulation 159 specifies conditions with which an authority must comply in transferring such amounts.

Part XIV of the Regulations makes provision for supplementary matters, including the application of Part IV of the Act to borrowing by authorities where the liability for the borrowing has been transferred by statute from one authority to another.

Footnotes

[^f00001]: 1989 c. 42.

[^f00002]: S.I. 1990/432; amended by S.I. 1990/1273, S.I. 1991/500, S.I. 1992/502, S.I. 1992/738, S.I. 1992/1618, S.I. 1992/2819, S.I. 1992/3257, S.I. 1993/520, S.I. 1993/2014, S.I. 1993/3054, S.I. 1994/553, S.I. 1995/850, S.I. 1995/1526, S.I. 1995/1982, S.I. 1996/568, S.I. 1996/2121 and S.I. 1996/2539.

[^f00003]: S.I. 1990/1019. There are amendments which are not relevant to this regulation. Part IV of the Housing Act 1988, under which the Regulations were made, was repealed by section 222 of, and paragraph 1 of Part I of Schedule 18 to, the Housing Act 1996 (c. 52) subject to the savings contained in paragraph 12 of the Schedule to the Housing Act 1996 (Commencement No. 3 and Transitional Provisions) Order 1996 (S.I. 1996/2402 (C. 62)).

[^f00004]: S.I. 1990/426; amended by S.I. 1991/501 and S.I. 1992/1353.

[^f00005]: 1985 c. 68. Section 516 was amended by section 132(5) of the Local Government and Housing Act 1989, and repealed by section 194(4) of, and Part II of Schedule 12 to, that Act, subject to the savings contained in paragraph 2 of the Schedule to the Local Government and Housing Act 1989 (Commencement No. 8 and Transitional Provisions) Order 1990 (S.I. 1990/1274 (c. 36)).

[^f00006]: 1993 c. 28.

[^f00007]: Copies of the publication can be obtained from 12 Great George Street, London SW1P 3AD.

[^f00008]: 1948 c. 5. Part of subsection (3) of section 3 of the Act was repealed by Part I of Schedule 10 to the Police Act 1964 (c. 48) and subsection (4) was repealed by Part XIII of Schedule I to the Statute Law (Repeals) Act 1986 (c. 12).

[^f00009]: 1996 c. 16.

[^f00010]: 1993 c. 47.

[^f00011]: 1977 c. 42.

[^f00012]: 1979 c. 55. Subsection (6) of section 59 was amended by section 12(10) of the Local Government Act 1985 (c. 51) and further amended by section 189 of the Local Government and Housing Act 1989. Subsection (1) was amended by, and subsection (8) was substituted by, paragraph 19 of Schedule 8 to the Police and Magistrates' Courts Act 1994 (c. 29).

[^f00013]: Available from the Office for National Statistics or from The Stationery Office.

[^f00014]: See section 736 of the Companies Act 1985 (c. 6) so far as that section is of continuing application, or that section as substituted by section 144(1) of the Companies Act 1989 (c. 40).

[^f00015]: The Local Government Residuary Body (England) was established by article 3 of the Local Government Residuary Body (England) Order 1995 (S.I. 1995/401).

[^f00016]: The Residuary Body for Wales or Corff Gweddilliol Cymru was established by section 39 of the Local Government (Wales) Act 1994 (c. 19) on 1st February 1995 pursuant to the Residuary Body for Wales (Appointed Day) Order 1995 (S.I. 1995/103 (C. 5)).

[^f00017]: 1996 c. 52. See section 175 of that Act.

[^f00018]: 1985 c. 68. See section 115 of that Act.

[^f00019]: 1980 c. 65.

[^f00020]: S.I. 1995/849; amended by S.I. 1996/621.

[^f00021]: 1972 c. 11.

[^f00022]: 1988 c. 50. Section 100 was repealed by section 222 of, and paragraph 1 of Part I of Schedule 18 to, the Housing Act 1996 (c. 52) subject to the savings contained in paragraph 12 of the Schedule to the Housing Act 1996 (Commencement No. 3 and Transitional Provisions) Order 1996 (S.I. 1996/2402 (C. 62)).

[^f00023]: S.I. 1995/402.

[^f00024]: S.I. 1994/3262 (C. 83). There are amendments which are not relevant to this regulation.

[^f00025]: 1947 c. 41.

[^f00026]: S.I. 1996/532.

[^f00027]: S.I. 1996/1243. There are amendments which are not relevant to this regulation.

[^f00028]: 1995 c. 25.

[^f00029]: 1985 c. 68. See section 112 of the Act.

[^f00030]: 1996 c. 52.

[^f00031]: See the 1990 Regulations as amended by S.I. 1995/850.

[^f00032]: 1947 c. 41.

[^f00033]: 1992 c. 19.

[^f00034]: 1994 c. 19.

[^f00035]: S.I. 1996/1243. There are amendments which are not relevant to these Regulations.

[^f00036]: 1995 c. 25.

[^f00037]: Paragraph 4 was substituted as from 20th January 1997 by paragraph 3 of Schedule 17 to the Housing Act 1996 (c. 52).

[^f00038]: See regulation 7 of the 1990 Regulations.

[^f00039]: Regulation 7A was inserted by S.I. 1996/568 and revoked by S.I. 1996/2539.

[^f00040]: 1875 c. 55.

[^f00041]: 1980 c. 66.

[^f00042]: S.I. 1990/432; paragraph (6) of regulation 7 was amended by S.I. 1992/3257, S.I. 1995/850, S.I. 1996/568 and S.I. 1996/2539.

[^f00043]: 1954 c. 56.

[^f00044]: 1996 c. 53.

[^f00045]: Section 569 was amended by section 157(8) of the Local Government and Housing Act 1989 and section 138 of the Leasehold Reform, Housing and Urban Development Act 1993 (c. 28).

[^f00046]: Part VIII of the Act, including sections 101 and 132, was repealed by section 147 of, and Part I of Schedule 3 to, the 1996 Act with savings in respect of applications for grant of the descriptions mentioned in section 101 made before the commencement of Part I of the 1996 Act (see section 102(2) of that Act).