Regulation 159 Conditions specified in relation to the transfer of amounts set asideI1

is expenditure for capital purposes;

in the case of an amount set aside in respect of a capital receipt to which regulation 71 applies, is for the purposes of or in connection with any of the matters mentioned in regulation 155;

is not excluded expenditure within the meaning given to that expression in regulation 156;

has been, or is to be, incurred in the current year or in the financial year immediately preceding or immediately following the current year; and

is in connection with the exercise by the transferee of functions which are substantially for the benefit of the whole or any part of the relevant authority’s area.

where, at the time of the transfer, the relevant expenditure has not been incurred, the amount transferred by the relevant authority shall not exceed 50 per cent. of the transferee’s estimate of that expenditure; and

subject to paragraph (4), where, at the time of the transfer, the relevant expenditure has already been incurred, the amount transferred by the relevant authority shall not exceed 50 per cent. of the amount of that expenditure.