# The Local Authorities (Capital Finance) (Amendment) (No. 3) Regulations 1993, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations further amend the Local Authorities (Capital Finance) Regulations 1990.
Regulation 3 amends regulation 6 of those Regulations to exclude further categories of leases and contracts from being credit arrangements.
The amendment made by regulation 4 provides that certain sums received in respect of a disposal of a local authority on rent to mortgage terms shall be capital receipts and the amendment made by regulation 8(b) specifies the reserved part applicable to such receipts.
Regulations 5 and 6 make provision for further reductions which an authority may make in their capital receipts before setting aside the reserved part as provision for credit liabilities and regulation 7 makes consequential amendments to regulation 20 of the 1990 Regulations.
Regulation 8(a) amends paragraph 1 of Part I of Schedule 1 to the 1990 Regulations in respect of the reserved part of capital receipts derived from the disposal of certain public airport company shares after 15th February 1989.

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Source: https://www.legislation.gov.uk/uksi/1993/3054/note (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-amendment-no-3-regulations-1993/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.