{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-106",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-106.json",
  "legislation": "uksi/1997/319",
  "legislation_title": "The Local Authorities (Capital Finance) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997",
  "path": "regulation/106",
  "kind": "regulation",
  "number": "106",
  "heading": "Notional capital receipts to be treated as reduced",
  "text": "(1) Subject to paragraph (2), where paragraph (3) applies to any consideration, the notional capital receipt in relation to that consideration shall be treated as reduced for the purposes of section 61(4) by an amount equal to the amount by which, if the consideration were in money paid to the authority, the capital receipt would be treated as reduced.\n(2) Where—\n(a) paragraph (3) applies to any consideration,\n(b) at the same time as, or before, that consideration is received, the authority receive a capital receipt in respect of the same disposal or a disposal of another interest in the same asset, and\n(c) the capital receipt is treated as reduced,\nthere shall be deducted from the amount by which, apart from this paragraph, the notional capital receipt would be treated as reduced an amount equal to the amount by which the capital receipt is treated as reduced.\n(3) This paragrpah applies to non-monetary consideration received by a local authority where—\n(a) an amount falls to be set aside under section 61(4) in respect of the consideration; and\n(b) if the consideration were in money paid to the authority, it would be a capital receipt falling to be treated as reduced for the purposes of section 59 by virtue of any provision of Part VIII of these Regulations.",
  "extent": "E+W",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 106 in force at 1.4.1997, see reg. 1(1)(b)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "uksi/1997/319",
      "affecting_title": "The Local Authorities (Capital Finance) Regulations 1997"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/319/regulation/106",
    "retrieved_at": "2026-10-29T12:25:41.411541+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."
}