# The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2004, Regulation 5: Expenditure to be capital expenditure


(1) In regulation 25 of the Principal Regulations (expenditure to be capital expenditure)—
(a) in sub-paragraph (d) of paragraph (1)—
(i) before “the acquisition of”, there shall be inserted “subject to paragraph (3),”; and
(ii) the word “and” shall be omitted;
(b) after sub-paragraph (e) of paragraph (1), there shall be added—
“; and
(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
(c) after paragraph (2), there shall be added—
“(3) Where the expenditure referred to in paragraph (1)(d) is—
(a) an investment in a money market fund; or
(b) the acquisition of loan capital in—
(i) a multilateral development bank; or
(ii) a financial institution that is guaranteed by the United Kingdom Government,
It shall not be treated as being capital expenditure by virtue of this regulation.”.

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Source: https://www.legislation.gov.uk/uksi/2004/534/regulation/5 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2004/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.