Amendment of the Local Authorities (Funds) (England) Regulations 1992
3. The Local Authorities (Funds) (England) Regulations 1992 are amended as follows—
S.I. 1992/2428. There are no relevant amendments.
(a) in regulation 13(1)(b) and (2)(b) (holdings and investments) omit the words “in a prescribed investment”;
(b) for regulation 13(3) substitute—

“(3) In carrying out its function of investment pursuant to paragraphs (1)(b) or (2)(b), a billing authority shall have regard to the code of practice contained in the document entitled “Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes” (2017 Edition) published by the Chartered Institute of Public Finance and Accountancy.
ISBN 978 1 84508 495 0.”;

(c) omit Schedule 3 (prescribed investments).