The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2024

• Citation: S.I. 2024/602
• Sections: 2

Section 1 Citation, commencement and extent

(1) These Regulations may be cited as the Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2024.

(2) These Regulations come into force on 1st June 2024.

(3) These Regulations extend to England and Wales.

Section 2 Amendment of the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003

(1) The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003 are amended as follows.

(2) In regulation 1(5) (citation, commencement, application and interpretation)—

(a) omit the definition of “money market fund”;

(b) in the definition of “relevant period”, for “three” substitute “five” ;

(c) in the definition of “relevant UCITS”, after paragraph (c) insert—

or

an EEA UCITS which is a recognised scheme under section 271A or 272 of the Financial Services and Markets Act 2000 , or

an EEA UCITS—

to which Article 4(1)(aa) of Regulation 2017/1131 of the European Parliament and of the Council of 14th June 2017 on Money Market Funds applies, and

which is marketed in accordance with Chapter 3 of Part 6 of the Alternative Investment Fund Managers Regulations 2013 ;

(3) In regulation 25(3) (expenditure to be capital expenditure), omit sub-paragraph (a).

(4) In regulation 30K(1) (fair value gains and losses of pooled investment funds), in the definition of “pooled investment fund” omit paragraph (a).