# The Local Authorities (Capital Finance) Regulations 1990, Paragraph 1


The initial credit ceiling of a local authority (“the designated authority”) shall be increased by so much of the amounts, if any, of money which, by virtue of an order made under section 66(1) or 67(3) of the Local Government Act 1985, a local authority are deemed to have borrowed from the designated authority or is to be treated as the designated authority’s transferred debt, as–
(a) has not been repaid before 1st April 1990; and
(b) is not shown in the designated authority’s accounts as an advance from a loans fund established by the designated authority under paragraph 15 of Schedule 13 to the Local Government Act 1972.

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Source: https://www.legislation.gov.uk/uksi/1990/432/schedule/3/paragraph/1 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1990/schedule-3/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.