Paragraph 3 Provision of a specialised nature

Enter here all capital expenditure being expenditure which the authority propose to capitalise in their accounts in accordance with proper practices being those accounting practices—

(i)

which the authority are required to follow by virtue of any enactment, or

(ii)

which, whether by reference to any generally recognised published code or otherwise, are regarded as proper accounting practices to be followed in the keeping of accounts of local authorities, either generally or of the description concerned;

but in the event of any conflict in any respect between the practices falling within (i) above and those falling within (ii) above, only those falling within (ii) above are to be regarded as proper practices^f1.

Annotations

Footnotes

f1: These are the proper practices as referred to in section 66(4) of the Local Government and Housing Act 1989 (c. 42) and, at the date that these Regulations are made, they include the Code of Practice on Local Authority Accounting in Great Britain 1998 (ISBN 0 85299 853 8).