# The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2008, Regulation 3: Capital Receipts


After regulation 7 insert—
“Loan capital
7A. (1) Subject to paragraph (2), for the purposes of Chapter 1 of Part 1, a sum received by a local authority on or after 1st April 2008 in respect of the redemption on maturity of a bond held by it which, apart from this regulation, would not be a capital receipt, shall be treated as a capital receipt.
(2) Paragraph (1) applies only if at the time of redemption expenditure on the acquisition of the bond would be treated as capital expenditure.”.

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Source: https://www.legislation.gov.uk/uksi/2008/414/regulation/3 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-amendment-regulations-2008/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.