[F1Accounting for capital expenditureE+W
29A. Where expenditure of a local authority—
(a)is expenditure which falls to be capitalised in accordance with proper practices (“capital expenditure”); or
(b)is treated as being capital expenditure by virtue of regulations made, or a direction given, under section 16(2),
that expenditure need not be charged to a revenue account of the local authority.]
Textual Amendments