# The Local Authorities (Capital Finance) Regulations 1997, Regulation 15: Consideration to be disregarded

Extent: E+W
Status: prospective

(1) In determining—
(a) the capital cost of a lease for the purposes of regulation 35 or 36,
(b) the adjusted cost of a lease, or
(c) the consideration given in respect of an earlier leasehold interest in land for the purposes of regulation 35 or 49,
a local authority shall disregard any consideration given or falling to be given in respect of the lease or, as the case may be, the earlier leasehold interest (“the lease”) if it is consideration to which paragraph (2), (3) or (4) applies.
(2) This paragraph applies to any consideration given by the authority before they become the lessees under the lease.
(3) This paragraph applies to any consideration where—
(a) the lease is excluded for the purposes of paragraph 11(2) of Schedule 3 to the Act by virtue of regulation 122 or 123; and
(b) the consideration falls to be given by the authority during the period of three months beginning on the date on which the authority become the lessees under the lease.
(4) This paragraph applies to any consideration in money paid out of a grant made under—
(a) section 3 of the Civil Defence Act 1948;
(b) sections 46, 47 and 48 of the Police Act 1996 (police grant and grants for capital expenditure and expenditure on safeguarding national security);
(c) section 20 of the Probation Service Act 1993;
(d) section 63(6) of the Rent Act 1977 (schemes for appointment of rent officers); or
(e) section 59 of the Justices of the Peace Act 1979.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/15 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.