COMMENTED by
The Local Authorities (Capital Finance) Regulations 1997 (Note)

The Local Authorities (Capital Finance) Regulations 1997

STATUTORY INSTRUMENTS

1997 No.319

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Authorities (Capital Finance) Regulations 1997

Made 12th February 1997

Laid before Parliament 24th February 1997

Coming into force

for the purposes of regulations 120, 121 and 162(a) 30th March 1997

for all other purposes 1st April 1997

ARRANGEMENT OF REGULATIONS

PART I

GENERAL

1. - Citation, commencement and interpretation

PART II

EXPENDITURE FOR CAPITAL PURPOSES

Expenditure to be expenditure for capital purposes

2. - Issue of loan instruments

3. - Building works

4. - Advances and grants for building works

5. - Repayment of grants by local authority

6. - Housing disposal costs

7. - Computer programs

8. - Expenditure under private finance transactions

Expenditure not to be expenditure for capital purposes

9. - Financial assistance for officers

10. - Expenditure on certain investments

PART III

CHARGE OF EXPENDITURE TO REVENUE ACCOUNTS

11. - Expenditure required to be charged to a revenue account

12. - Expenditure not required to be charged to a revenue account

PART IV

CREDIT ARRANGEMENTS

Preliminary provisions

13. - Interpretation

14. - Capital cost of leases

15. - Consideration to be disregarded

16. - Meaning of private finance transaction

ransactions which are credit arrangements

17. - Private finance transactions

Leases and contracts which are not credit arrangements

18. - Leases and contracts of small value

19. - Leases under which the consideration given mostly in first year

20. - Operating leases

21. - Contracts with residuary bodies

22. - Licensing contracts

23. - Investments made for the purposes of a superannuation fund

24. - Other leases excluded from section 48

25. - Other contracts excluded from section 48

Initial and subsequent cost of leases

26. - Exclusion of leases from section 49(2)

Leases of which the initial cost is nil

27. - Cost of lease at any time

28. - Leases under certain private finance transactions

29. - Lease of land for term not exceeding three years

30. - Lease of dwelling-house for use as accommodation for homeless persons

31. - Lease of land for non-housing purposes

32. - Consecutive leases of land for total term not exceeding ten years

33. - Fire authority leases

34. - National Park authority leases

Other leases

35. - Leases having an initial cost which includes consideration under earlier lease

36. - Leases of other descriptions

37. - Leases under private finance transactions - leases not falling within regulation 28

38. - Reduction in the initial cost of certain leases

39. - Cost at any time of certain leases

Private finance transactions

40. - Transactions for the provision of a capital asset and services

41. - Transactions for the replacement or enhancement of a building and provision of heating services

42. - Transactions for the provision of a building and heating services

Initial and subsequent cost of other credit arrangements

43. - Arrangement for improving the heating or lighting of a building

44. - Arrangement for improving street lighting

45. - Initial cost and cost at any time of arrangements for heating or lighting improvements

Variation of credit arrangements

46. - Variation of arrangements excluded from section 49(2)

47. - The adjusted cost of arrangements - general provision

48. - Leases having an adjusted cost of nil

49. - Variation of lease where initial cost included consideration under earlier lease

50. - Continuation of tenancy under Part II of the Landlord and Tenant Act 1954

51. - Cost of arrangements at any time after variation

PART V

CREDIT APPROVALS

52. - Interpretation

53. - Specified capital grants - all local authorities

54. - Specified capital grants - local authorities in England

55. - Specified capital grants - local authorities in Wales

PART VI

CAPITAL RECEIPTS

Sums to be capital receipts

56. - Transfer of property under the London Government Act 1963

57. - Transfer of property under the Local Government Act 1972

58. - ...

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