# The Local Authorities (Capital Finance) Regulations 1997, Regulation 111: Disposal of land in exchange for right to use the land after enhancement

Extent: E+W
Status: prospective

In the case of non-monetary consideration received in respect of a disposal of an interest in land, the amount falling to be set aside under section 61(4) in respect of the consideration shall be nil where—
(a) the person to whom the disposal is made carries out works for the enhancement of the land; and
(b) the consideration consists of, or includes, the grant of a leasehold or lesser interest which confers on the authority a right to use the land after the completion of the works.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/111 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-111
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.