2. In regulation 25 of the Principal Regulations (expenditure to be capital expenditure)(1)—
(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”; 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)(2) applies,”.
Regulation 25 was amended by S.I. 2004/534.