# The Local Authorities (Capital Finance) Regulations 1997, Regulation 57: Transfer of property under the Local Government Act 1972

Extent: E+W
Status: prospective

Where a sum in respect of principal is payable to a local authority by virtue of—
(a) an order under section 51(2), 58(2) or 67(4) of the Local Government Act 1972 (“the 1972 Act”), regulations under section 67(1) or (2) of the 1972 Act, or an agreement under section 68 of the 1972 Act in relation to any matter which has been transferred under the order, the regulations or, as the case may be, the agreement from the authority to another body; or
(b) an order under section 254(1) or (2)(a) or (d) of the 1972 Act, or under those provisions as extended by section 34(1) of, and paragraph 5(2)(b) of Schedule 6 to, the Water Act 1973, in relation to any matter which has been transferred under the 1972 Act or the order from the authority to another body,
the sum received by the authority shall be a capital receipt.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/57 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-57
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.