# The Local Authorities (Capital Finance) Regulations 1990, Regulation 2: Expenditure to be expenditure for capital purposes


(1) Expenditure incurred by a local authority in the issue of a relevant loan instrument shall be expenditure for capital purposes.
(2) In paragraph (1) above, a “relevant loan instrument” means a loan instrument issued in relation to any loan other than a loan in respect of which all payments or repayments by the authority are to be made not later than one year after the loan instrument is issued.

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Source: https://www.legislation.gov.uk/uksi/1990/432/regulation/2 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1990/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.