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

1Name, commencement, application and interpretation

PART 1BORROWING

2Code of practice

PART 2CREDIT ARRANGEMENTS

TRANSACTIONS WHICH ARE CREDIT ARRANGEMENTS

2ASecuritisation transactions

TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTS

3Liabilities that do not arise from capital expenditure

4Retirement benefits

CALCULATION OF COST OF CREDIT ARRANGEMENTS AND OTHER CONTROLS

5Calculation of cost of credit arrangements

5AVaried Transactions

PART 3CAPITAL RECEIPTS

SUMS TO BE TREATED AS CAPITAL RECEIPTS

6Repayment of loan etc. to a local authority

7Disposal of mortgage portfolio

8Payment made to redeem landlord’s share

8ASecuritisation transaction receipts

SUMS NOT TO BE TREATED AS CAPITAL RECEIPTS

9Capital receipts not exceeding £10,000

9AOperating and finance leases

POOLING OF RECEIPTS

10Pooling of receipts from disposals of housing land

11Available capital allowance

12Total capital allowance

13Provision of affordable housing

14Regeneration projects

15Non-money receipts

16Capital receipts reduced by costs of buying back dwellings

17Capital receipts reduced by costs of buying back and improving dwellings

18Use of capital receipts

PART 4SUPPLEMENTARY

20Expenditure to be capital expenditure

PART 5MINIMUM REVENUE PROVISION

21Duty to make Minimum Revenue Provision

22Calculation of minimum revenue provision

23Commutation adjustments to minimum revenue provision

24Retirement benefits

24ABack payment following unequal pay

24BEarly repayment of loans — premiums and discounts at 31st March 2007

24CEarly repayment of loans — premiums and discounts after 31st March 2007

24DInterest on loans given by local authorities

24EInterest on stepped interest rate loans taken out by local authorities

24FFinancial guarantees given by local authorities

24GImpairment of certain investments

24HShort-term accumulating compensated absences

24ILease classification

24JWhere, on or after 1 April 2009, a local authority...

24KFair value gains and losses of pooled investment funds

24LInfrastructure assets

25Proper practices

25AAccounting treatment of loans from the Public Works Loan Board drawn down on 2 April 2015

PART 7MISCELLANEOUS PROVISIONS

26Application of Local Government Act 2003 to National Park authorities

27Loans to qualifying local government bodies

2003 No. 3239 (W.319)

LOCAL AUTHORITIES, WALES

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

Made9th December 2003

Coming into force

for the purpose of regulations 1 and 231st December 2003

for all other purposes1st April 2004

The National Assembly for Wales, in exercise of the powers conferred upon it by sections 3(5) to (7), 7(2)(b) and (3)(c), 8(3), 9(3), 10, 11, 15(1)(b), 16(2), 21(1) and (2), 23(2), 24, 123(2) and 124 of, and paragraph 4 of Schedule 1 to, the Local Government Act 20031, hereby makes the following Regulations: