{
  "url": "https://openlegislation.uk/local-authorities-borrowing-regulations-1990/schedule/paragraph-6",
  "json_url": "https://openlegislation.uk/local-authorities-borrowing-regulations-1990/schedule/paragraph-6.json",
  "legislation": "uksi/1990/767",
  "legislation_title": "The Local Authorities (Borrowing) Regulations 1990",
  "legislation_url": "https://openlegislation.uk/local-authorities-borrowing-regulations-1990",
  "path": "schedule/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": null,
  "text": "For the purposes of paragraph 5 above, the present value as at the relevant date—\n(a) of an amount to be paid on or before that date, is that amount; and\n(b) of an amount to be paid at a later date, is an amount found by the following formula—\nA(1+ r100 )t where\n“A” is the amount of the payment to be made;\n“r” is the rate per annum expressed as a percentage; and\n“t” is the period beginning with the relevant date and ending with the date of payment of the amount expressed in years.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "substituted",
      "affecting": "uksi/1991/551",
      "affecting_title": "The Local Authorities (Borrowing) (Amendment) Regulations 1991"
    },
    {
      "type": "amended",
      "affecting": "uksi/1990/1091",
      "affecting_title": "The Local Authorities (Borrowing) (Amendment) Regulations 1990"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/767/schedule/paragraph/6",
    "retrieved_at": "2026-10-29T15:22:23.642029+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}