{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-amendment-no-2-regulations-1996/regulation-4",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-amendment-no-2-regulations-1996/regulation-4.json",
  "legislation": "uksi/1996/2121",
  "legislation_title": "The Local Authorities (Capital Finance) (Amendment No. 2) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-amendment-no-2-regulations-1996",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Reserved part of capital receipts",
  "text": "In regulation 14, in paragraph (19), for sub-paragraph (e) substitute the following sub-paragraph —\n“(e) if, at the time of the authority’s decision to dispose of their interest in the land, the land was subject to a contract for an agricultural tenancy, the authority have offered to dispose of their interest to the tenant under the tenancy at a price not exceeding an amount determined in accordance with the formula —\n3×(P1-P2)4+P2 where —\n“P1”means the price which the authority would reasonably expect to be agreed for a sale of the interest on the open market subject to a surrender of the tenancy; and\n“P2”means the price which the authority would reasonably expect to be agreed for a sale of the interest on the open market subject to the tenancy.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/2121/regulation/4",
    "retrieved_at": "2026-10-29T12:36:52.499042+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."
}