{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2004/regulation-5",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2004/regulation-5.json",
  "legislation": "uksi/2004/534",
  "legislation_title": "The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2004",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2004",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Expenditure to be capital expenditure",
  "text": "(1) In regulation 25 of the Principal Regulations (expenditure to be capital expenditure)—\n(a) in sub-paragraph (d) of paragraph (1)—\n(i) before “the acquisition of”, there shall be inserted “subject to paragraph (3),”; and\n(ii) the word “and” shall be omitted;\n(b) after sub-paragraph (e) of paragraph (1), there shall be added—\n“; and\n(f) the payment of any levy by a local authority under section 136 of the Leasehold Reform Housing and Urban Development Act 1993 (levy on disposals)”; and\n(c) after paragraph (2), there shall be added—\n“(3) Where the expenditure referred to in paragraph (1)(d) is—\n(a) an investment in a money market fund; or\n(b) the acquisition of loan capital in—\n(i) a multilateral development bank; or\n(ii) a financial institution that is guaranteed by the United Kingdom Government,\nIt shall not be treated as being capital expenditure by virtue of this regulation.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1993 c. 28; section 136 was amended by section 109 of the Finance Act 1997 (c. 16)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/534/regulation/5",
    "retrieved_at": "2026-10-29T05:31:32.368661+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}