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The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1998

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Statutory Instruments

1998 No. 602

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1998

Made

9th March 1998

Laid before Parliament

11th March 1998

Coming into force

1st April 1998

The Secretary of State for the Environment, Transport and the Regions, as respects England, and the Secretary of State for Wales, as respects Wales, in exercise of the powers conferred on them by section 48(5) of the Local Government and Housing Act 1989(1), and of all other powers enabling them in that behalf, hereby make the following Regulations:

Commencement and citation

1.  These Regulations may be cited as the Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1998 and shall come into force on 1st April 1998.

Amendment of Regulations

2.  The Local Authorities (Capital Finance) Regulations 1997(2) shall be amended in regulation 24 (other leases excluded from section 48) by the addition of the following at the end of paragraph (2)—

“; or

(f)article 5 of the Police Act 1997 (Commencement No. 5 and Transitional Provisions) Order 1998(3)”.

Signed by authority of the Secretary of State for the Environment, Transport and the Regions

Nigel Raynsford

Minister of State,

Department of the Environment, Transport and the Regions

5th March 1998

Signed by authority of the Secretary of State for Wales

Win Griffiths

Parliamentary Under-Secretary of State, Welsh Office

9th March 1998

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend regulation 24 of the Local Authorities (Capital Finance) Regulations 1997 which (together with regulations 18, 19, 20 and 23) specifies descriptions of lease which are not to be credit arrangements. The effect of the amendment is that any lease acquired by the Service Authority for the National Crime Squad, which was established by section 47(1) of the Police Act 1997 (c. 50), will not be a credit arrangement if it is transferred under article 5 of the Police Act 1997 (Commencement No. 5 and Transitional Provisions) Order 1998.

(2)

S.I. 1997/319; to which there are amendments not relevant to these Regulations.

(3)

S.I. 1998/354 (C.8).

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