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The Local Authority (Capital Finance and Accounting) (Scotland) Regulations 2016
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- Scottish Statutory Instruments
- 2016 No. 123
- PART 2
- Regulation 5
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Borrowing by way of a credit arrangementS
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5.—(1) A local authority may incur debt through borrowing by way of a credit arrangement for financing capital expenditure of the authority.
(2) The amount of external debt to be recognised by a local authority in respect of a credit arrangement is the liability that requires to be recognised as arising from the credit arrangement in accordance with proper accounting practices.
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