{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-further-consequential-and-saving-provisions-order-2004/article-4",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-further-consequential-and-saving-provisions-order-2004/article-4.json",
  "legislation": "uksi/2004/2044",
  "legislation_title": "The Local Authorities (Capital Finance) (Further Consequential and Saving Provisions) Order 2004",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-further-consequential-and-saving-provisions-order-2004",
  "path": "article/4",
  "kind": "article",
  "number": "4",
  "heading": "The Local Government Changes for England (Payments to Designated Authorities) (Minimum Revenue Provision) Regulations 1995",
  "text": "(1) Subject to paragraphs (2) to (4), the following provisions shall be revoked—\n(a) the 1995 MRP Regulations;\n(b) regulation 12(2) of the Local Authorities (Capital Finance) (Amendment No. 3) Regulations 1998 (revocation); and\n(c) article 518 of the Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (meaning of “the reference banks”).\n(2) Subject to paragraphs (3) and (4), where, before the date of the coming into force of this Order—\n(a) paragraph (1) of regulation 4 of the 1995 MRP Regulations (liability of participant authorities to make payments to designated authorities) applied; and\n(b) sub-paragraph (a)(i) or (ii), or sub-paragraph (b), of paragraph (2) of that regulation applied,\nthe 1995 MRP Regulations shall continue to have effect on and after the date of the coming into force of this Order, as if the revocations in paragraph (1) of this article had not been made, for the purposes of any payments to be made by a participant authority to a designated authority by virtue of the 1995 MRP Regulations to the extent not already paid.\n(3) In regulation 2 of the 1995 MRP Regulations (interpretation), for sub-paragraph (d) of paragraph (2), there shall be substituted—\n“(d) except where the context otherwise requires, any expression which was also used in Part IV of the 1989 Act (revenue accounts and capital finance of local authorities) before 1st April 2004, shall have the same meaning as that expression had in that Part immediately before 1st April 2004.”.\n(4) In the Schedule to the 1995 MRP Regulations (calculation of relevant components)—\n(a) in sub-paragraph (1) of paragraph 1 of Part I (interpretation), for the definition of “commutation adjustment”, there shall be substituted—\n““the 2003 Regulations” means the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003;\n“additional amount” has the same meaning as in regulation 28(2) of the 2003 Regulations (calculation of minimum revenue provision);\n“commutation adjustment” means an amount calculated for the current year in accordance with the formula in regulation 29(1) of the 2003 Regulations (commutation adjustment);”;\n(b) in paragraph 2 of Part II (component in respect of principal)—\n(i) for the definition of E, there shall be substituted—\n“E is that part of the additional amount, calculated by the designated authority for the current year, which is in respect of any relevant housing SCAs or, as the case may be, relevant non-housing SCAs;”;\n(ii) in paragraph (i) of the definition of F, “relevant housing advances or, as the case may be,” shall be omitted; and\n(iii) in paragraph (ii) of the definition of F, “relevant non-housing advances or, as the case may be,” shall be omitted;\n(c) for paragraph 3 of Part II, there shall be substituted—\n“3. Where, for the current year, the amount calculated by the designated authority as the minimum revenue provision, in accordance with the formula in regulation 28(1) of the 2003 Regulations, is reduced by the designated authority’s commutation adjustment, the amount of the component in respect of principal calculated for that year, in accordance with paragraph 2, shall be reduced by such amount in respect of that commutation adjustment as the designated authority and the participant authority may agree or, in default of such agreement, as the designated authority may determine.”; and\n(d) in paragraph 5 of Part III (component in respect of interest)—\n(i) for the definition of L, there shall be substituted—\n“L is the total of those parts of the additional amounts, calculated by the designated authority for the current year and for subsequent financial years, which are in respect of any relevant housing SCAs or, as the case may be, relevant non-housing SCAs;”;\n(ii) in paragraph (i) of the definition of M, “relevant housing advances or, as the case may be,” shall be omitted; and\n(iii) in paragraph (ii) of the definition of M, “relevant non-housing advances or, as the case may be,” shall be omitted.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 1998/1937."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 2001/3649."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "1989 c. 42; relevant provisions in Part IV were repealed on 1st April 2004 by section 127 of, and paragraphs 28 and 29 of Schedule 7 and Part 1 of Schedule 8 to, the Local Government Act 2003."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "S.I. 2003/3146; amended by S.I. 2004/534."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/2044/article/4",
    "retrieved_at": "2026-10-29T05:20:39.247493+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."
}