# The Local Authorities (Capital Finance and Accounting) (Wales) Regulations 2003, Regulation 5: 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/wsi/2003/3239/regulation/5 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-and-accounting-wales-regulations-2003/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.