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

[F1 Bonds E+W

7A.— (1) Subject to paragraph (2), for the purposes of Chapter 1 of Part 1, a sum received by a local authority in respect of—

(a) the redemption on maturity of a bond, or

(b) the disposal of a bond,

must be treated as a capital receipt.

(2) Paragraph (1) applies only if—

(a) the acquisition of the bond was prior to 1st April 2012, and

(b) expenditure on the acquisition was treated as capital expenditure.]

Textual Amendments

F1 Reg. 7A substituted (1.4.2012) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2012 (S.I. 2012/265), regs. 1(3), 5(2) (with reg. 1(4))