# The Local Authorities (Capital Finance) Regulations 1997, Regulation 19: Leases under which the consideration given mostly in first year

Extent: E+W
Status: prospective

A lease is excluded from section 48 (credit arrangements) if, on the date on which the authority become the lessees, the authority estimate that the value of the consideration which will have been given by them in respect of the lease at the end of a period of one year comencing on that date, is not less than 90 per cent. of the capital cost of the lease.

---
Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/19 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.