- Latest available (Revised)
- Original (As made)
The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003
You are here:
- UK Statutory Instruments
- 2003 No. 3146
- PART 7
- Regulation 30K
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland and Northern Ireland)
- Show Timeline of Changes
More Resources
Changes over time for: Section 30K
Alternative versions:
Changes to legislation:
The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003, Section 30K is up to date with all changes known to be in force on or before 25 July 2024. 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.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 1(3A) substituted by S.I. 2024/478 reg. 2(2)(b)
- reg. 28(4)-(7) inserted by S.I. 2024/478 reg. 2(4)(c)
[F1Fair value gains and losses of pooled investment fundsE+W
30K.—(1) In this regulation—
“administering authority” means an administering authority as defined in Schedule 1 to the Local Government Pension Scheme Regulations 2013;
“fair value” means the fair value of an investment as determined in accordance with proper practices;
“fair value gain or loss” means a change in the fair value of an investment;
“pooled investment fund” means—
(2) Where a local authority—
(a)invests in a pooled investment fund (other than in its capacity as an administering authority in relation to a pension fund), and
(b)a fair value gain or loss experienced on the authority’s investment in that pooled investment fund would otherwise be charged to a revenue account by that local authority in accordance with proper practices,
paragraph (3) applies.
(3) Where this paragraph applies, the authority—
(a)must not charge to a revenue account an amount in respect of that fair value gain or loss; and
(b)must charge that amount to an account established, charged and used solely for the purpose of recognising fair value gains and losses in accordance with this regulation.
(4) Paragraph (3) does not apply in respect of—
(a)an impairment loss in relation to the authority’s investment in a pooled investment fund as recognised in a revenue account of the authority in accordance with proper practices; or
(b)a sale or other disposal of the whole or any part of the authority’s investment in a pooled investment fund.
(5) This regulation applies in relation to accounts prepared for financial years falling within the period beginning with 1st April 2018 and ending with 31st March [F52025].]
Textual Amendments
F1Reg. 30K inserted (19.12.2018) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2018 (S.I. 2018/1207), regs. 1(2), 5
F2Words in reg. 30K(1) omitted (1.6.2024) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2024 (S.I. 2024/602), regs. 1(2), 2(4)
F3Word in reg. 30K(1) omitted (31.12.2020) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2019 (S.I. 2019/396), regs. 1(2), 5(b); 2020 c. 1, Sch. 5 para. 1(1)
F4Words in reg. 30K(1) inserted (31.12.2020) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2019 (S.I. 2019/396), regs. 1(2), 5(c); 2020 c. 1, Sch. 5 para. 1(1)
F5Word in reg. 30K(5) substituted (31.3.2023) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2023 (S.I. 2023/241), regs. 1(2), 2
Options/Help
Print Options
PrintThe Whole Instrument
PrintThe Whole Part
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
See additional information alongside the content
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.