# The Local Authorities (Capital Finance) Regulations 1997, Regulation 39: Cost at any time of certain leases

Extent: E+W
Status: prospective

Where a local authority become the lessees under a lease of which the initial cost falls to be determined under regulation 35, 36 or 37, the cost of the lease at any time shall be the amount which would be the capital cost of the lease, if it was entered into at the time in question, on the basis of an estimate made at that time and disregarding any consideration given by the authority in respect of the lease before that time.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/39 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-39
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.