The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003

PART 8 MISCELLANEOUS PROVISIONS

Local authorities for the purposes of Part 1 of the Local Government Act 2003 – levying bodies

32.  The following levying bodies, within the meaning of section 74 of the Local Government Finance Act 1988 (levies)(1), are specified for the purposes of section 23(1)(o) (local authorities for the purposes of Part 1)—

(a) the Broads Authority(2);

(b) the Lee Valley Regional Park Authority(3);

(c) a National Park authority(4);

(d) the London Pensions Fund Authority(5); and

(e) the South Yorkshire Pensions Authority(6).

Use of amounts set aside under the Local Government and Housing Act 1989

33.—(1) Any local authority—

(a) whose credit ceiling on 31st March 2004, as determined under Part III of Schedule 3 to the Local Government and Housing Act 1989 (provisions supplementing Part IV – credit ceiling)(7), was a negative amount; and

(b) who was a debt-free authority on that date,

may treat the amount specified in paragraph (2) as if it were a capital receipt to which regulation 23 applies.

(2) Subject to paragraph (3), the amount specified is the amount which was, on 31st March 2004, the amount set aside by the authority (whether voluntarily or pursuant to a requirement under Part IV of the Local Government and Housing Act 1989 (revenue accounts and capital finance of local authorities)) as provision to meet credit liabilities.

(3) The amount specified in paragraph (2) shall not exceed the amount by which the local authority’s credit ceiling on 31st March 2004 was less than nil.

Loans to qualifying local government bodies

34.  For the purposes of paragraph 4 of Schedule 1 (loans by parish councils and charter trustees) any local authority which is a local authority for the purposes of Part 1 or Schedule 1 is specified as a qualifying local government body.

(1)

1988 c. 41; there are amendments to section 74 which are not relevant to these Regulations.

(2)

The Broads Authority was established by section 1 of the Norfolk and Suffolk Broads Act 1988 (c. 4).

(3)

The Lee Valley Regional Park Authority was established by the Lee Valley Regional Park Act 1966 (c. xli).

(4)

National Park authorities are established under section 63 of the Environment Act 1995 (c. 25).

(5)

The London Pensions Fund Authority was established by S.I. 1989/1815.

(6)

The South Yorkshire Pensions Authority was established by S.I. 1987/2110.

(7)

1989 c. 42.