# The Local Authorities (Capital Finance) Regulations 1997, Regulation 34: National Park authority leases

Extent: E+W
Status: prospective

(1) In this regulation—
“National Park authority” has the same meaning as in article 2 of the National Park Authorities (England) Order 1996;
“relevant agreement or award” means an agreement under section 76 of the Environment Act 1995 (agreements as to incidental matters) or an award under subsection (3) of that section; and
“relevant council”, in relation to a National Park authority, means the council which, pursuant to paragraph 8 of Schedule 17 to the Local Government Act 1972, appointed the National Park Committee for the Park for which the authority is established.
(2) The initial cost of a lease of land shall be nil where—
(a) the authority are a National Park authority;
(b) the relevant council occupied the land on 31st March 1997, and the authority become the lessees within a period of 12 months beginning on 1st April 1997 other than by virtue of a relevant agreement or award;
(c) immediately before the date on which the authority become the lessees, another local authority have a freehold or leasehold interest in the land;
(d) the term of the lease does not exceed ten years;
(e) the lease does not confer on the lessee an option to purchase the lessor’s interest in the land; and
(f) where the term of the lease exceeds three years, the capital cost of the new lease does not exceed 70 per cent of the relevant value.
(3) The initial cost of a lease (“the new lease”) of land shall be nil where—
(a) the authority are the relevant council in relation to a National Park authority, and become the lessees of the National Park authority within a period of 12 months beginning on 1st April 1997;
(b) on 31st March 1997 the authority had a freehold or earlier leasehold interest in the land which has vested in the National Park authority by virtue of article 15 of the National Park Authorities (England) Order 1996 or a relevant agreement or award;
(c) the term of the new lease does not exceed ten years;
(d) the new lease does not confer on the lessee an option to purchase the lessor’s interest in the land; and
(e) where the term of the new lease exceeds three years, the capital cost of the new lease does not exceed 70 per cent. of the relevant value.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/34 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-34
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.