# The Local Authorities (Capital Finance) (Amendment No. 3) Regulations 1998, Regulation 7: Capital receipts of debt-free authorities


In regulation 65—
(a) for sub-paragraphs (c) and (d) of paragraph (2) substitute the following—
“and
(c) paragraph (3) applies to the receipt.”; and
(b) after paragraph (2) add the following paragraph—
“(3) This paragraph applies to a capital receipt where—
(a) apart from this regulation, the capital receipt would have a reserved part greater than nil per cent. by virtue of regulation 66, 66A, 68A or 72;
(b) the receipt is derived from a disposal made by virtue of Part V of the Housing Act 1985 (the right to buy) of a dwelling provided under Part II of that Act (provision of housing accommodation); or
(c) the receipt is derived from a disposal of any housing land other than a dwelling provided under Part II of that Act.”.

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Source: https://www.legislation.gov.uk/uksi/1998/1937/regulation/7 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-amendment-no-3-regulations-1998/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.