Expenditure to be capital expenditure7.

In regulation 25 (expenditure to be capital expenditure)7—

(a)

in subsection (1)(d), omit “or loan capital”;

(b)

for subsection (1)(ea), substitute—

“(ea)

expenditure incurred on the acquisition, production or construction of assets for use by, or disposal to, a person other than the local authority which would be capital expenditure if those assets were acquired, produced or constructed for use by the local authority; and”; and

(c)

omit subsection (3)(b).