The Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1999 No. 1852

Meaning of private finance transaction

4.  In regulation 16(2)–

(a) for sub-paragraph (b) substitute the following–

“(b) the authority do not give to any other person any indemnity or guarantee in respect of any liabilities of the person with whom they enter into the transaction (whether those liabilities are incurred in respect of the transaction or otherwise);”;

(b) in sub-paragraph (d), for the words “provisions relating to” substitute “factors which in every case include” and after that sub-paragraph insert the word “and”; and

(c) omit sub-paragraphs (f) and (g).