51(1)Section 69 (interpretation of Part 1) is amended as follows.E+W
(2)In subsection (1), the definition of “revenue support grant” is omitted.
(3)After subsection (2) there is inserted—
“(2A)In this Part, any reference to expenditure incurred by a billing authority, major precepting authority or local precepting authority in any financial year includes the following (whether or not giving rise to actual payments)—
(a)any amount which does not form part of the authority’s capital receipts for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance) and which is set aside for the year by the authority as provision to meet credit liabilities; and
(b)any other amount which is set aside for the year by the authority as reasonably necessary for the purpose of providing for any liability or loss which is likely or certain to be incurred but is uncertain as to the amount or the date on which it will arise (or both).”
Commencement Information
I1Sch. 7 para. 51 partly in force; Sch. 7 para. 51(1) in force at Royal Assent see s. 128(1)(b)
I2Sch. 7 para. 51(2) in force at 27.11.2003 for W. by S.I. 2003/3034, art. 2, Sch. 1 Pt. I
I3Sch. 7 para. 51(3) in force at 27.11.2003 for W. for the purpose of and in relation to financial years beginning on or after 1.4.2004 by S.I. 2003/3034, art. 2, Sch. 1 Pt. I
I4Sch. 7 para. 51(3) in force at 1.4.2004 for E. by S.I. 2003/2938, art. 7(a) (with art. 8, Sch.)