Loans fund advancesS
13.—(1) Subject to paragraph (2), for each financial year a local authority must make loans fund advances in respect of the amount of—
(a)expenditure that the authority has incurred; and
(b)lending that the authority has made,
that it has determined is to be financed by borrowing, as permitted by regulation 2, in that financial year.
(2) A loans fund advance may not be made for any expenditure or lending financed by—
(a)borrowing that relates to treasury management activities; or
(b)a credit arrangement.
[F1(3) Except for an advance to which regulation 14 applies, a local authority must repay a loans fund advance in accordance with proper accounting practices.]
Textual Amendments
F1Reg. 13(3) inserted (1.4.2023) by The Local Authority (Capital Finance and Accounting) (Scotland) (Coronavirus) Amendment Regulations 2021 (S.S.I. 2021/119), regs. 1(3), 6(2) (as amended by S.S.I. 2022/122, regs. 1(1), 4(2))
Commencement Information