OpenLegislation

Regulation 6 Minimum revenue provision – use of certain credit approvals

Original text. Later amendments are not shown.

(1)

In regulation 130, for the definition of “relevant credit approval” substitute the following definition–

  • ““relevant credit approval” means any supplementary credit approval other than one which is a credit approval within the meaning given to that expression in regulation 136;”.

(2)

In regulation 136, in paragraph (1), for the definition of “credit approval” substitute the following definition–

  • ““credit approval” means any supplementary credit approval which–

    1. (a)

      is issued to the authority in respect of expenditure which is treated as expenditure for capital purposes by virtue only of directions under section 40(6) (capital purposes); and

    2. (b)

      specifies an amortisation period.”.

(3)

In regulation 153, in paragraph (a)(ii), for “supplementary credit approvals falling within section 54(5)” substitute “credit approval within the meaning given to that expression in regulation 136”.