# The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021, Regulation 5: Amendment of regulation 13


In regulation 13—
(a) in paragraph (3)—
(i) for “a rate of 1% above base rate” substitute “the applicable rate”;
(ii) for “three-monthly” substitute “yearly”;
(b) in paragraph (6), at the appropriate place insert—
““applicable rate” means whichever is the higher of—
(a) 1%; and
(b) 1% above base rate;”.

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Source: https://www.legislation.gov.uk/uksi/2021/611/regulation/5 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-amendment-regulations-2021/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.