Part 1Capital finance etc and accounts
Chapter 1Capital finance etc
Supplementary
I216“Capital expenditure”
I31
Subject to subsection (2), references in this Chapter to capital expenditure, in relation to a local authority, are to expenditure of the authority which falls to be capitalised in accordance with proper practices.
I12
The Secretary of State may—
a
by regulations provide that expenditure of local authorities shall be treated for the purposes of this Chapter as being, or as not being, capital expenditure;
b
by direction provide that expenditure of a particular local authority shall be treated for the purposes of this Chapter as being, or as not being, capital expenditure.