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The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2012
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- UK Statutory Instruments
- 2012 No. 265
- Regulation 7
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Expenditure to be capital expenditure
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7. In regulation 25 (expenditure to be capital expenditure)(1)—
(a)in subsection (1)(d), omit “or loan capital”;
(b)for subsection (1)(ea), substitute—
“(ea)expenditure incurred on the acquisition, production or construction of assets for use by, or disposal to, a person other than the local authority which would be capital expenditure if those assets were acquired, produced or constructed for use by the local authority; and”; and
(c)omit subsection (3)(b).
(1)
In regulation 25, paragraph (1)(d) was amended and paragraph 3 was inserted by S.I. 2004/534, and paragraph 1(ea) was inserted by S.I. 2007/573.
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