# The Local Authorities (Capital Finance) Regulations 1997, Regulation 74: Land used for the purposes of education

Extent: E+W
Status: prospective

The reserved part shall be 25 per cent. in the case of a capital receipt, other than a nil per cent. receipt, which is received during the period beginning on 1st April 1997 and ending on 31st March 1998 in respect of a disposal of a freehold or leasehold interest in land where—
(a) on 1st April 1993, the land was in use by the authority in whole or in part for the purposes of a school or an institution providing further education (within the meaning given to that expression in section 14 of the Further and Higher Education Act 1992) or education for adults;
(b) if, at the time of the disposal, the land has ceased to be used for such purposes, it has not, since ceasing to be so used, been in use under a planning permission granted for any other use for a period of more than five years; and
(c) the land is not land to which section 74(1) (duty to keep Housing Revenue Account) applied immediately before the disposal.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/74 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-74
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.