# The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2012, Regulation 7: Expenditure to be capital expenditure


In regulation 25 (expenditure to be capital expenditure)—
(a) in subsection (1)(d), omit “or loan capital”;
(b) for subsection (1)(ea), substitute—
“(ea) expenditure incurred on the acquisition, production or construction of assets for use by, or disposal to, a person other than the local authority which would be capital expenditure if those assets were acquired, produced or constructed for use by the local authority; and”; and
(c) omit subsection (3)(b).

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Source: https://www.legislation.gov.uk/uksi/2012/265/regulation/7 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-amendment-regulations-2012/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.