# The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003, Regulation 26: Expenditure not to be capital expenditure

Extent: E+W

Expenditure incurred by a local authority on the giving of loans, grants or other financial assistance—
(a) to an officer of the authority pursuant to the terms and conditions of his employment; or
(b) in connection with the appointment of a person as an officer of the authority, to that person,
in so far as, apart from this regulation, it would be capital expenditure, shall be treated for the purposes of Chapter 1 of Part 1 as not being capital expenditure.

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Source: https://www.legislation.gov.uk/uksi/2003/3146/regulation/26 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.