27.—(1) During the financial year beginning on 1st April 2004 and every subsequent financial year, a local authority—
(a)shall charge to a revenue account a minimum amount (“minimum revenue provision”) for that financial year; and
(b)may charge to a revenue account any amount in addition to the minimum revenue provision,
in respect of the financing of capital expenditure incurred by the local authority in that year or in any financial year prior to that year.
(2) During the financial year beginning on 1st April 2004 and every subsequent financial year, a parish council or charter trustees may charge to a revenue account any amount in respect of the financing of capital expenditure incurred by the parish council or the charter trustees, as the case may be, in that year.
Commencement Information
I1Reg. 27 in force at 1.1.2004 for specified purposes and 1.4.2004 in so far as not already in force, see reg. 1(1)