{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-31",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-31.json",
  "legislation": "uksi/1997/319",
  "legislation_title": "The Local Authorities (Capital Finance) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997",
  "path": "regulation/31",
  "kind": "regulation",
  "number": "31",
  "heading": "Lease of land for non-housing purposes",
  "text": "(1) In this regulation—\n“the demised land”, in relation to a new lease, means the land demised by the new lease; and\n“new lease” means a lease of non-housing land—\n(a) which is for a term not exceeding ten years;\n(b) which does not confer on the lessee an option to purchase the lessor’s interest in the demised land; and\n(c) of which the capital cost does not exceed 70 per cent. of the relevant value of the demised land.\n(2) The initial cost of a new lease shall be nil where—\n(a) the authority have not at any time had a freehold or any leasehold interest in the whole or any part of the demised land; and\n(b) no other local authority have had a leasehold interest in the demised land under a lease of which the inital cost was nil.\n(3) The initial cost of a new lease shall be nil where—\n(a) the authority had a leasehold interest in the demised land under an earlier lease acquired before 1st April 1989; and\n(b) the new lease is a lease of the same land granted to the authority upon the expiry date of the earlier lease.\n(4) The initial cost of a new lease shall be nil where the authority have disposed of the freehold or a leasehold interest in any land, and—\n(a) the new lease is a lease of the whole or any part of a new building constructed on that land after the date of that disposal; or\n(b) the new lease is a lease of part of a building on that land which was occupied before the disposal for the purposes of, or in connection with, the exercise of any of the authority’s functions, and the capital cost of the new lease is less than 50 per cent. of the amount which would be the capital cost of a lease on identical terms of the whole building.",
  "extent": "E+W",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 31 in force at 1.4.1997, see reg. 1(1)(b)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "uksi/1997/319",
      "affecting_title": "The Local Authorities (Capital Finance) Regulations 1997"
    },
    {
      "type": "amended",
      "affecting": "uksi/1999/1852",
      "affecting_title": "The Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1999"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/319/regulation/31",
    "retrieved_at": "2026-10-29T12:25:41.411541+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}