# The Local Authorities (Capital Finance) Regulations 1997, Regulation 84: Nature of disposal of interest in land

Extent: E+W
Status: prospective

For the purposes of this Part, a disposal of an interest in land meets the condition specified in this regulation if—
(a) the authority make the disposal by conveying the freehold interest in the land, granting a lease for a term of not less than 125 years, or assigning their entire leasehold interest in the land; and
(b) where the interest disposed of is a lease, the authority estimate that not less than 90 per cent. of the capital value of the lease has been, or is to be, received by them within one year after the date of the disposal.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/84 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-84
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.