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The Local Authorities (Capital Finance) Regulations 1990
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- UK Statutory Instruments
- 1990 No. 432
- PART VII
- Regulation 21
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Modifications of initial credit ceiling and credit ceiling on or after 1st April 1990
21.—(1) The modifications of a local authority’s initial credit ceiling mentioned in Part I of Schedule 3 to these Regulations are prescribed for the purposes of paragraph 8 of Schedule 3 to the Act.
(2) A local authority’s credit ceiling shall be determined at any time on or after 1st April 1990 in accordance with paragraphs 11 to 14 of Schedule 3 to the Act subject to the modification which is mentioned in Part II of Schedule 3 to these Regulations and which is prescribed for the purposes of paragraph 10 of Schedule 3 to the Act.
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