# The Local Authorities (Capital Finance) (Amendment) (Wales) Regulations 2003, 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;
(b) the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2000;
(c) the Firemen’s Pension Scheme Order 1992;
(d) the Police Pensions Regulations 1987;
(e) the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 1997.
(f) any other regulations made under section 24 of the Superannuation Act 1972 (Compensation for loss of office, etc).”.

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Source: https://www.legislation.gov.uk/wsi/2003/915/regulation/2 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-amendment-wales-regulations-2003/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.