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The Local Authority (Capital Finance and Accounting) (Scotland) (Coronavirus) Amendment Regulations 2021

Consolidated Text As Enacted Cited authorities 17 Cited in Related
Vincent
JurisdictionScotland
CitationSSI 2021/119
Year2021
(1) These Regulations may be cited as the Local Authority (Capital Finance and Accounting) (Scotland) (Coronavirus) Amendment Regulations 2021.(2) Part 1 comes into force on the day after the day on which these Regulations are made.(3) Part 2 comes into force on 1 April F12023.
  • The Local Authority (Capital Finance and Accounting) (Scotland) Regulations 2016
  • After regulation 14 (duty to make a statutory repayment of loans fund advances) insert—
      (14A) Deferral of statutory repayments in 2020-21 or 2021-22
    • (1) A local authority may reduce the amount of any of the statutory repayments it is due to make to the loans fund (whether that amount was determined under these Regulations or prior to them) , but—
    • (a) if it reduces any repayment under the power in this paragraph in the financial year 2020-21, it may not reduce any repayments under the power in the financial year 2021-22,
    • (b) it may not reduce any of those repayments to an amount less than zero, and
    • (c) in determining the amount that is available for reduction, any increase resulting from a variation of the amount of that statutory repayment by the local authority after 31 March 2020 must be ignored.
    • if it reduces any repayment under the power in this paragraph in the financial year 2020-21, it may not reduce any repayments under the power in the financial year 2021-22,it may not reduce any of those repayments to an amount less than zero, andin determining the amount that is available for reduction, any increase resulting from a variation of the amount of that statutory repayment by the local authority after 31 March 2020 must be ignored.For the purposes of section 56(6) of the 1973 Act the decision enabled by paragraph (1) is a function of the local authority with respect to borrowing money (and therefore is a function that may be discharged only by the local authority itself) .the remainder of the period relevant to that loans fund advance as already

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