Regulation 3 Expenditure to be expenditure for capital purposes

Insert the following regulation after regulation 8—

“Expenditure by participant authorities on voluntary payments to designated authorities

8A

Expenditure by a local authority on making a payment as a participant authority under regulation 8(1) of the Local Government Changes for England (Payments to Designated Authorities) (Minimum Revenue Provision) Regulations 1995^f1 shall be expenditure for capital purposes.”.