{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/schedule/paragraph-3",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-england-regulations-2003/schedule/paragraph-3.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": "schedule/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) The buy back allowance for the relevant financial year means 50% of the relevant costs of buying back a relevant interest in the relevant financial year where—\n(a) “relevant costs” means the expenditure incurred by the authority in the relevant financial year including administrative and incidental costs; and\n(b) “relevant interest” means a freehold or leasehold interest in a dwelling—\n(i) that has previously been disposed of by the authority, another authority, a new town corporation, a housing action trust or an urban development corporation;\n(ii) that was not acquired pursuant to a compulsory purchase order; and\n(iii) was not acquired from a body of persons corporate or unincorporate.\n(2) The available buy back allowance in respect of a relevant financial year is calculated as follows—\n(available buy back allowance for the previous quarter+buy back allowance for the relevant quarter)–available buy back allowance deducted in the previous quarter when calculating the sub-liability.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. substituted (1.4.2013) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013 (S.I. 2013/476), regs. 1(3), 4, Sch. (with reg. 7)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. para. 3: the words \"relevant financial year\" substituted for \"relevant quarter\" (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(3)(a) (with reg. 7(3)) [Editorial note: For technical reasons the editorial team has been unable to carry out this substitution where the relevant words occur in formulas contained in image files.]"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. para. 3(2): the words \"previous financial year\" substituted for \"previous quarter\" (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(3)(b) (with reg. 7(3)) [Editorial note: For technical reasons the editorial team has been unable to carry out this substitution where the relevant words occur in formulas contained in image files.]"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2003/3146/schedule/paragraph/3",
    "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."
}