# The Education (London Residuary Body) (Capital Money) Order 1991, Article 8: Application of general distribution of capital money


(1) 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 (revenue accounts and capital finance of local authorities).
(2) 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.

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Source: https://www.legislation.gov.uk/uksi/1991/184/article/8 (the official version)
Page: https://openlegislation.uk/education-london-residuary-body-capital-money-order-1991/article-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.