The Local Authorities (Capital Finance) (Amendment No. 3) Regulations 1998

Disposal of investments

9.  Insert the following regulation after regulation 66—

Disposal of investments

66A.  The reserved part shall be 50 per cent. in the case of a capital receipt, other than a nil per cent. receipt, which is received in respect of a disposal of an investment which is not an investment in share capital or loan capital in a body corporate..