Regulation 2 Amendment of the Local Authorities (Capital Finance) Regulations 1997

After regulation 12A (Expenditure not required to be charged to a revenue account — expenditure for capital purposes on property within the Housing Revenue Account) of the 1997 Regulations insert —

“Expenditure not required to be charged to a revenue account — expenditure in respect of liabilities for retirement benefits

12B.

(1)

Expenditure by a local authority in Wales in respect of liabilities for retirement benefits appropriated to a pension reserve in accordance with proper practices shall be expenditure falling within section 42(2).

(2)

For the purposes of paragraph (1) “retirement benefits” means benefits payable pursuant to —

(a)

the Local Government Pension Scheme Regulations 1997^f1;

(b)

the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2000^f2;

(c)

the Firemen’s Pension Scheme Order 1992^f3;

(d)

the Police Pensions Regulations 1987^f4;

(e)

the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 1997^f5.

(f)

any other regulations made under section 24 of the Superannuation Act 1972 (Compensation for loss of office, etc)^f6.”.