{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-5",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-5.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/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Varied transactions",
  "text": "For the purposes of Chapter 1 of Part 1 (capital finance etc.), a local authority shall be taken to have entered into a credit arrangement where—\n(a) on or after 1st April 2004, it enters into a transaction (“the new transaction”) which varies a transaction entered into previously, whether before, on or after 1st April 2004 (“the earlier transaction”);\n(b) the earlier transaction did not result in the local authority being taken to have entered into a credit arrangement; and\n(c) the local authority would, if it had entered into the earlier transaction as varied by the new transaction on—\n(i) the date on which the earlier transaction was entered into; or\n(ii) if later, 1st April 2004,\nbe taken to have entered into a credit arrangement,\nand the date on which it is taken to have entered into the credit arrangement by virtue of this regulation is the date on which it enters into the new transaction.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 5 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/5",
    "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."
}