- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
5.—(1) In addition to any amounts set aside under article 3(2)(a)(ii) above, an Executive shall set aside in each financial year such amount in respect of liabilities as described in article 2(6) above as the Executive shall decide not being less than 4 per cent of the total of the liabilities shown in the balance sheet of the Executive as at the relevant date in the preceding financial year.
(2) Amounts to be set aside under paragraph (1) above may be taken from—
(a)any provision made by the Executive for depreciation, or
(b)any other income of the Executive except income which, in the hands of a local authority, would be capital receipts.
(3) Any amounts set aside by an Executive by virtue of paragraph (1) above or of article 3(2)(a)(ii) above may be applied only to meet expenditure in respect of long-term liabilities and, until they are so applied, any such amounts shall be held in approved investments.
(4) In this article and in articles 2(3)(a)(ii) and 3(2)(a)(ii) above “expenditure in respect of long-term liabilities” means any expenditure incurred by an Executive to discharge a liability which is shown in the last balance sheet of the Executive prepared before the expenditure was incurred, other than—
(a)a current liability, or
(b)a liability in respect of interest.
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