# The Local Authorities (Capital Finance) Regulations 1997, Regulation 25: Other contracts excluded from section 48

Extent: E+W
Status: prospective

(1) A contract to which paragraph (2) applies is excluded from section 48.
(2) This paragraph applies to a contract which would not constitute a credit arrangement if the authority, in making the relevant estimates, disregarded an amount of consideration equal to three per cent. of the total value of the consideration falling to be given by them under the contract.
(3) In paragraph (2), “relevant estimates” means the estimates which the authority make under section 48(1)(b) for the financial years during which they are to receive any consideration under the contract and the financial year immediately following the last such year.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/25 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.