Regulation 4 Sums to be capital receipts

Insert the following regulation after regulation 58—

“Voluntary payments by participant authorities to designated authorities

58A

A sum received by a local authority as a designated authority which is paid to them by another local authority under regulation 8(1) of the Local Government Changes for England (Payments to Designated Authorities) (Minimum Revenue Provision) Regulations 1995 shall be a capital receipt.”.