Regulation 9 External funds
Borrowing of money by a local authority for the purposes of the following funds is not to be treated as borrowing by the authority for the purposes of these Regulations—
a superannuation fund which the authority is required to keep by virtue of the Superannuation Act 1972;
a pension fund which the local authority is required to keep by virtue of the Public Service Pensions Act 2013;
a trust fund of which the authority is a trustee;
a common good fund.
Entry into a credit arrangement by a local authority for the purposes of a fund mentioned in paragraph (1) is not to be treated as being entry into a credit arrangement by the authority for the purposes of these Regulations.
The temporary use by a local authority of money forming part of a fund mentioned in paragraph (1), otherwise than for the purposes of the fund, is to be treated as borrowing by the authority for the purposes of these Regulations.