Expenditure to be capital expenditure2

In regulation 25 of the Principal Regulations (expenditure to be capital expenditure)5—

a

in paragraph (1), after sub-paragraph (e), insert—

ea

expenditure incurred on the acquisition or production of assets for use by a person other than the local authority which would be capital expenditure if those assets were acquired or, as the case may be, produced for use by the local authority; and

b

in paragraph (3), after sub-paragraph (b), insert—

; or

c

an investment in the shares of a company to which Part 4 of the Finance Act 2006 (Real Estate Investment Trusts)6 applies,