# The Local Authorities (Capital Finance) Regulations 1997, Regulation 117: Credit ceiling not reduced by certain minimum revenue provision

Extent: E+W
Status: prospective

A local authority’s credit ceiling shall not be reduced by the setting aside under section 63(1) (duty to set certain amounts aside as provision to meet credit liabilities) of any amount which, for the purposes of regulation 131, is determined by the authority under regulation 137 (use of amounts set aside to meet liabilities under credit arrangements where initial cost was nil).

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/117 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-117
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.