Regulation 58 Repayment of money deemed to have been borrowedI1

A sum received by a local authority in respect of a repayment of principal in relation to money which, by virtue of an order made under section 66(1) or 67(3) of the Local Government Act 1985 (discharge of residuary functions)^f1, is deemed to have been borrowed from them by another local authority shall be a capital receipt.