Article 8 Application of general distribution of capital money

Money received by a charging authority by virtue of article 5 shall be a capital receipt of that charging authority for the purposes of Part IV of the Local Government and Housing Act 1989^f1 (revenue accounts and capital finance of local authorities).

The reserved part of such a capital receipt, within the meaning of Part IV of the Local Government and Housing Act 1989, shall be 50 per cent.