Regulation 126 Amounts set aside—transferred property and deemed borrowingI1

In determining their adjusted credit ceiling at any time, a local authority shall disregard any reduction in their credit ceiling which results from the setting aside under section 59(1) of the reserved part of a capital receipt where the sum received is a capital receipt by virtue of regulation 56, 57 or 58, and the reserved part is 100 per cent. by virtue of regulation 68.