The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010

Use of capital receipts

4.  In regulation 23(1)—

(a) in paragraph (e), omit the word “administrative”;

(b) at the end of paragraph (f), omit “or”; and

(c) after paragraph (g), insert—

“(h) to meet the costs of or incidental to a disposal of an interest in land other than housing land, provided these do not exceed 4% of the capital receipt arising from the disposal; or

(i) to make all or part of a payment to a person, where the obligation to make that payment arises on the disposal of an asset, as a result of an agreement made at the time of the acquisition of that asset, or in relation to such an agreement.”.

(1)

Amended by S.I. 2006/521.