The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003

1. Introductory Text

2. PART 1 PRELIMINARY

   1. 1. Citation, commencement, application and interpretation

3. PART 2 BORROWING

   1. 2. Code of practice

4. PART 3 CREDIT ARRANGEMENTS

   1. TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTS

      1. 3. Liabilities that do not arise from capital expenditure

      2. 4. Retirement benefits

   2. SUPPLEMENTARY PROVISION

      1. 5. Varied transactions

   3. COST OF CREDIT ARRANGEMENTS

      1. 6. Calculation of cost of credit arrangements

5. PART 4 CAPITAL RECEIPTS

   1. SUMS TO BE TREATED AS CAPITAL RECEIPTS

      1. 7. Repayment of loan etc. to a local authority

      2. 8. Disposal of mortgage portfolio

      3. 9. Payment made to redeem landlord’s share

   2. SUMS NOT TO BE TREATED AS CAPITAL RECEIPTS

      1. 10. Capital receipts not exceeding £10,000

      2. 11. Operating and finance leases

   3. POOLING OF RECEIPTS

      1. 12. Pooling of receipts from disposals of housing land

      2. 13. Interest on late payments

      3. 14. Capital receipt treated as reduced

      4. 15. Available capital allowance

      5. 16. Total capital allowance

      6. 17. Provision of affordable housing

      7. 18. Regeneration projects

      8. 19. Capital receipts reduced by costs of buying back “right to buy” dwellings

      9. 20. Capital receipts reduced by costs of buying back dwellings in the preceding year

      10. 20A. Capital receipts reduced by consideration for former new town assets

      11. 21. Transitional reductions for debt-free authorities

      12. 22. Non-money receipts

   4. MISCELLANEOUS

      1. 23. Use of capital receipts

6. PART 5 SUPPLEMENTARY

   1. 24. Guidance

   2. 25. Expenditure to be capital expenditure

   3. 26. Expenditure not to be capital expenditure

7. PART 6 REVENUE PROVISION

   1. 27. Duty to make revenue provision

   2. 28. Calculation of minimum revenue provision

   3. 29. Commutation adjustment

8. PART 7 ACCOUNTS

   1. 30. Retirement benefits

   2. 31. Proper practices

9. PART 8 MISCELLANEOUS PROVISIONS

   1. 32. Local authorities for the purposes of Part 1 of the Local Government Act 2003 – levying bodies

   2. 33. Use of amounts set aside under the Local Government and Housing Act 1989

   3. 34. Loans to qualifying local government bodies

10. Signature

11. Explanatory Note