# The Local Authority (Capital Finance and Accounting) (Scotland) Regulations 2016, Regulation 13: Loans fund advances


(1) Subject to paragraph (2), for each financial year a local authority must make loans fund advances in respect of the amount of—
(a) expenditure that the authority has incurred; and
(b) lending that the authority has made,
that it has determined is to be financed by borrowing, as permitted by regulation 2, in that financial year.
(2) A loans fund advance may not be made for any expenditure or lending financed by—
(a) borrowing that relates to treasury management activities; or
(b) a credit arrangement.

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Source: https://www.legislation.gov.uk/sdsi/2016/9780111031063/regulation/13 (the official version)
Page: https://openlegislation.uk/draft-local-authority-capital-finance-and-accounting-scotland-regulations-2016/regulation-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.