Regulation 94 Improvement of land out of moneys provided by ParliamentI1

England and Wales Not yet in force

(1)

Capital receipts of a description specified in paragraph (2) shall be treated for the purposes only of section 59 as reduced by an amount determined in accordance with paragraph (3).

(2)

For the purposes of paragraph (1), capital receipts derived from a disposal of an interest in land are specified where the authority—

(a)

have incurred expenditure on the reclamation, enhancement or laying out of the land; and

(b)

have met that expenditure wholly or partly out of moneys provided by Parliament on terms which require, or enable a Minister of the Crown to require, the payment of any sum to such a Minister on or by reference to the disposal.

(3)

For the purposes of paragraph (1), in relation to any capital receipts of a description specified in paragraph (2), the amount of the reduction is the sum which appears to the authority to be payable to a Minister of the Crown in respect of those receipts.

Annotations

Commencement

I1: Reg. 94 in force at 1.4.1997, see reg. 1(1)(b)