{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-23",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-23.json",
  "legislation": "uksi/2003/3146",
  "legislation_title": "The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003",
  "path": "regulation/23",
  "kind": "regulation",
  "number": "23",
  "heading": "Use of capital receipts",
  "text": "Capital receipts may only be used for one or more of the following purposes—\n(a) to meet capital expenditure;\n(b) to repay the principal of any amount borrowed;\n(c) to pay a premium charged in relation to any amount borrowed;\n(d) to meet any liability in respect of credit arrangements, other than any liability which, in accordance with proper practices, must be charged to a revenue account;\n(e) to meet the ... costs of or incidental to a disposal of an interest in housing land; or\n(f) to make a payment to the Secretary of State under regulation 12, 13, the Schedule or pursuant to any agreement made under section 11(6) of the Local Government Act 2003;; ...\n(g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(h) to meet the costs of or incidental to a disposal of an interest in land other than housing land, provided these do not exceed 4% of the capital receipt arising from the disposal; ...\n(i) to make all or part of a payment to a person, where the obligation to make that payment arises on the disposal of an asset, as a result of an agreement made at the time of the acquisition of that asset, or in relation to such an agreement; ...\n(j) where receipts are received on or after 1st April 2012, to make a back payment (within the meaning of regulation 30A(2) or regulation 30AA(2) as the case may be) in respect of unequal pay where the liability arises in the circumstances specified in regulation 30A(3) or 30AA(3) as the case may be;or\n(k) in the case of a Mayoral development corporation established under Chapter 2 of Part 8 of the Localism Act 2011, to meet any liability to pay corporation tax.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in reg. 23(e) omitted (1.4.2010) by virtue of The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010 (S.I. 2010/454), regs. 1(1)(b), 4(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 23(f) substituted (30.9.2012) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 4) Regulations 2012 (S.I. 2012/2269), regs. 1(2), 5"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in reg. 23(f) omitted (1.4.2010) by virtue of The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010 (S.I. 2010/454), regs. 1(1)(b), 4(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Reg. 23(g) omitted (1.4.2012) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2012 (S.I. 2012/711), regs. 1(2), 8 (with reg. 10)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Reg. 23(h)(i) inserted (1.4.2010) by The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010 (S.I. 2010/454), regs. 1(1)(b), 4(c)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Word in reg. 23(h) omitted (31.3.2013) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013 (S.I. 2013/476), regs. 1(2), 5(1)(a)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Reg. 23(i) and word substituted for full stop (31.3.2013) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013 (S.I. 2013/476), regs. 1(2), 5(1)(b)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Word in reg. 23(i) omitted (1.5.2017 with application in relation to a financial year commencing on or after 1.4.2016) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2017 (S.I. 2017/536), regs. 1, 2(2)(a)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in reg. 23(j) inserted (19.12.2018) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2018 (S.I. 2018/1207), regs. 1(2), 3(a)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in reg. 23(j) inserted (19.12.2018) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2018 (S.I. 2018/1207), regs. 1(2), 3(b)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Reg. 23(k) and word inserted (1.5.2017 with application in relation to a financial year commencing on or after 1.4.2016) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2017 (S.I. 2017/536), regs. 1, 2(2)(b)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 23 in force at 1.1.2004 for specified purposes and 1.4.2004 in so far as not already in force, see reg. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2003/3146/regulation/23",
    "retrieved_at": "2026-10-29T05:38:10.449991+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."
}