The Local Authorities (Capital Finance, Approved Investments and Contracts—Amendment) (England) Regulations 2001

• Citation: S.I. 2001/723
• Sections: 10

Section 1 Citation, commencement and extent

(1) These Regulations, which extend to England only , may be cited as the Local Authorities (Capital Finance, Approved Investments and Contracts—Amendment) (England) Regulations 2001.

(2) These Regulations shall come into force on 1st April 2001.

Section 2 The Local Authorities (Capital Finance) Regulations 1997

The Local Authorities (Capital Finance) Regulations 1997 shall be amended in accordance with regulations 3 to 8 below.

Section 3 Other leases excluded from section 48

In regulation 24(2) after sub-paragraph (g) insert:

; or (h) any scheme under paragraph 33 of Schedule 14 to the Access to Justice Act 1999 ; or

regulations under paragraph 35 of Schedule 14 to the Access to Justice Act 1999, to the extent that where accommodation is provided to the Greater London Magistrates' Courts Authority under regulations under that paragraph, it is leased to that authority.

Section 4 Excluded private finance transactions

In regulation 40(1) for the words “for the financial year in which the credit arrangement comes into being” substitute “for any financial year during the term of the credit arrangement”.

Section 5 Credit ceiling increased by amount of debt transferred from another authority

After regulation 118A insert the following regulation:

(118B) Where an authority transfer some or all of their debt to another authority (“the transferee”), the credit ceiling of the transferee shall be increased by the amount of debt so transferred.

Section 6 Credit ceiling reduced by amount of debt transferred to another authority

After regulation 119A insert the following regulation:

(119B) Where an authority (“the transferor”) transfer some or all of their debt to another authority, the credit ceiling of the transferor shall be reduced by the amount of debt so transferred.

Section 7 Determining the non-housing reduction

In regulation 148(1) in sub-paragraph (a) for “regulation 119A” substitute “regulations 119A and 119B”.

Section 8 Determining the non-housing increase

In regulation 149(1):

(a) at the end of sub-paragraph (c) omit the word “and”;

(b) after sub-paragraph (d) add:

; and

under regulation 118B.

Section 9 The Local Authorities (Capital Finance) (Approved Investments) Regulations 1990

(1) The Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 shall be amended as follows.

(2) In regulation 1(2), in the definition of “relevant lender” , for “28 to 35” substitute “28 to 36”.

(3) At the end of Part II of the Schedule , add—

(36) The Greater London Magistrates' Courts Authority.

Section 10 The Local Authorities (Contracts) Regulations 1997

(1) The Local Authorities (Contracts) Regulations 1997 shall be amended as follows.

(2) In regulation 5(1), at the end of sub-paragraph (g) omit “and” and after sub-paragraph (h)16 221 (j) insert—

; and (i) the Greater London Magistrates' Courts Authority.

(3) In regulation 6(1)—

(a) after “Schedule 10 to the Greater London Authority Act” insert “1999 or, in the case of the Greater London Magistrates' Courts Authority, section 59A(2) of the Justices of the Peace Act 1997” ; and

(b) in sub-paragraph (b), after “Schedule 10 to the Greater London Authority Act” insert “1999 or, in the case of the Greater London Magistrates' Courts Authority, section 59A(2) of the Justices of the Peace Act 1997.”.