The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003, Section 6 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F16. For the purposes of section 8(2) (entry into a credit arrangement or variation to be treated as the borrowing of an amount equal to the cost of the arrangement or variation), the cost of a credit arrangement or variation of a credit arrangement is—
(a)in the case of a securitisation transaction, an amount equal to the value of the consideration received by the authority as a result of that transaction, or
(b)in all other cases, the amount of the liability in respect of that arrangement or variation which is shown, in accordance with proper practices, in the authority’s accounts.]
Textual Amendments
F1Reg. 6 substituted (1.4.2012) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2012 (S.I. 2012/265), regs. 1(3), 4(3) (with reg. 1(4))
Commencement Information
I1Reg. 6 in force at 1.1.2004 for specified purposes and 1.4.2004 in so far as not already in force, see reg. 1(1)
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