# The Local Authorities (Capital Finance and Accounting) (Wales) (Amendment) Regulations 2018, Regulation 9: Expenditure to be capital expenditure


In regulation 20 (expenditure to be capital expenditure)—
(a) in paragraph (1)(d), omit “or loan capital”;
(b) after paragraph (1)(g)—
(i) omit “.”;
(ii) insert—
“; and
(h) expenditure incurred on the acquisition, production or construction of assets for use by, or disposal to, a person other than the local authority which would be capital expenditure if those assets were acquired, produced or constructed for use by the local authority.”;
(c) for paragraph (5), substitute—
“(5) The expenditure referred to in paragraph (1)(d) may not be treated as being capital expenditure by virtue of this regulation if it is—
(a) an investment in a money market fund;
(b) an investment in the shares of a company to which Part 12 of the Corporation Tax Act 2010 (real estate investment trusts) applies; or
(c) the acquisition of shares in an investment scheme approved by the Treasury under section 11(1) of the Trustee Investments Act 1961 (local authority investment schemes).”;
(d) omit paragraph (6);
(e) in paragraph (7), for “paragraphs (1)(a), (d), (e) and (f)” substitute “paragraphs (1)(a), (d), (e), (f) and (2)”.

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Source: https://www.legislation.gov.uk/wsi/2018/325/regulation/9 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-amendment-regulations-2018/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.