# The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003, Regulation 6: Calculation of cost of credit arrangements

Extent: E+W

For the purposes of section 8(2) (entry into a credit arrangement or variation to be treated as the borrowing of an amount equal to the cost of the arrangement or variation), the cost of a credit arrangement or variation of a credit arrangement is—
(a) in the case of a securitisation transaction, an amount equal to the value of the consideration received by the authority as a result of that transaction, or
(b) in all other cases, the amount of the liability in respect of that arrangement or variation which is shown, in accordance with proper practices, in the authority’s accounts.

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Source: https://www.legislation.gov.uk/uksi/2003/3146/regulation/6 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.