Prospective
PART 2E+WCREDIT ARRANGEMENTS
TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTSE+W
Liabilities that do not arise from capital expenditureE+W
3.—(1) Subject to paragraph (2) liabilities of a local authority that do not arise from the incurring by the authority of capital expenditure are liabilities specified for the purposes of section 7(3)(c) (Exclusion of certain liabilities from definition of “qualifying liabilities”).
(2) Paragraph (1) does not apply where proper practices in accordance with regulation 25 require the recognition of a fixed asset.
Commencement Information
I1Reg. 3 in force at 1.4.2004, see reg. 1(1)
Retirement benefitsE+W
4.—(1) Liabilities for retirement benefits as represented by an appropriation to a pension reserve in accordance with proper practices in accordance with regulation 25 are liabilities specified for the purposes of section 7(3)(c).
(2) For the purposes of paragraph (1) and regulation 25, “retirement benefits” means benefits payable pursuant to—
(a)the Local Government Pension Scheme Regulations 1997(1);
(b)the Firemen’s Pension Scheme Order 1992(2);
(c)the Police Pensions Regulations 1987(3);
(d)the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2000(4);
(e)the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 1997(5); and
(f)any other regulations made under section 24 of the Superannuation Act 1972 (Compensation for loss of office etc.)(6).
Commencement Information
I2Reg. 4 in force at 1.4.2004, see reg. 1(1)
S.I. 1997/1612, to which there are amendments not relevant to these Regulations.
S.I. 1987/257, to which there are amendments not relevant to these Regulations.
S.I. 2000/1410, to which there are amendments not relevant to these Regulations.
S.I. 1997/311, to which there are amendments not relevant to these Regulations.
1972 c. 11; sectiion 24 was amended by section 13(1) of, and paragraph 10 of Schedule 2 to the Police Pensiions Act 1976 (c. 35).