{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-regulations-2003/regulation-5",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-regulations-2003/regulation-5.json",
  "legislation": "wsi/2003/3239",
  "legislation_title": "The Local Authorities (Capital Finance and Accounting) (Wales) Regulations 2003",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-regulations-2003",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Calculation of cost of credit arrangements",
  "text": "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": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 5 substituted (31.3.2018) by The Local Authorities (Capital Finance and Accounting) (Wales) (Amendment) Regulations 2018 (S.I. 2018/325), regs. 1(1), 4(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/wsi/2003/3239/regulation/5",
    "retrieved_at": "2026-10-29T00:09:44.187495+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."
}