{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-amendment-regulations-2018/regulation-4",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-amendment-regulations-2018/regulation-4.json",
  "legislation": "wsi/2018/325",
  "legislation_title": "The Local Authorities (Capital Finance and Accounting) (Wales) (Amendment) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-amendment-regulations-2018",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Credit arrangements",
  "text": "(1) Before regulation 3 (liabilities that do not arise from capital expenditure) and the sub-part heading “Transactions which are not credit arrangements”, insert—\n“TRANSACTIONS WHICH ARE CREDIT ARRANGEMENTS\nSecuritisation transactions\n2A. A securitisation transaction must be treated as a transaction falling within section 7(2)(a).”\n(2) For regulation 5 (calculation of cost of credit arrangements), substitute—\n“Calculation of cost of credit arrangements\n5. 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—\n(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\n(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.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/wsi/2018/325/regulation/4",
    "retrieved_at": "2026-10-28T23:23:48.180601+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."
}