# The Local Authorities (Capital Finance) (Amendment) Regulations 1992, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations further amend the Local Authorities (Capital Finance) Regulations 1990.
Regulation 2 inserts a new Part VIIIA dealing with the use under section 64 of the Local Government and Housing Act 1989 (“the Act”) of amounts set aside on or before 31st March 1992 as provision to meet credit liabilities by a local authority in England who have a negative credit ceiling (as determined under Part III of Schedule 3 to the Act) and who have no outstanding borrowing (except short-term borrowing or borrowing under a repealed enactment applying only to the City of London). A new regulation 26B specifies the purposes for which such amounts may be applied and the bodies to which they may be transferred. A new regulation 26C specifies the conditions with which an authority applying or transferring such an amount must comply.

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Source: https://www.legislation.gov.uk/uksi/1992/738/note (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-amendment-regulations-1992/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.