# The Local Authority (Capital Finance and Accounting) (Scotland) Regulations 2016, Regulation 9: External funds


(1) 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) a superannuation fund which the authority is required to keep by virtue of the Superannuation Act 1972;
(b) a pension fund which the local authority is required to keep by virtue of the Public Service Pensions Act 2013;
(c) a trust fund of which the authority is a trustee;
(d) a common good fund.
(2) 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.
(3) 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.

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Source: https://www.legislation.gov.uk/sdsi/2016/9780111031063/regulation/9 (the official version)
Page: https://openlegislation.uk/draft-local-authority-capital-finance-and-accounting-scotland-regulations-2016/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.