{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-97",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-97.json",
  "legislation": "uksi/1997/319",
  "legislation_title": "The Local Authorities (Capital Finance) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-regulations-1997",
  "path": "regulation/97",
  "kind": "regulation",
  "number": "97",
  "heading": "Land in England—disposal of certain dwellings",
  "text": "(1) For the purposes of this regulation—\n“dwelling” has the extended meaning which it has in regulation 22(1);\n“relevant consent” means a consent to a disposal of land given by the Secretary of State to local authorities generally under section 32 or 43 of the Housing Act 1985, section 22 of the Housing and Building Control Act 1984 or section 104 of the Housing Act 1957;\n“relevant date”, in relation to a dewlling, means the date three years before the date on which a local authority make a disposal such as is mentioned in paragraphh (3), or the first such disposal (if they make more than one in relation to the dwelling);\n“relevant lease” means—\n(a) a secure tenancy within the meaning which that expression has in Part IV of the Housing Act 1985 (secure tenancies and rights of secure tenants);\n(b) an introductory tenancy within the meaning which that expression has in Chapter 1 of Part V of the Housing Act 1996; or\n(c) any other lease, other than a shared ownership lease; and\n“shared ownership lease” has the same meaning as in regulation 22(1).\n(2) Capital receipts of a description specified in paragraph (3) shall be treated for the purposes only of section 59 as reduced by an amount determined in accordance with paragraph (5).\n(3) For the purposes of paragraph (2), capital receipts derived from a disposal of an interest in a dwelling are specified where—\n(a) the authority are a local authority in England;\n(b) the disposal meets the condition specified in regulation 84, or the authority make the disposal by granting a shared ownership lease; and\n(c) paragraph (4) applies to the dwelling.\n(4) This paragraph applies to a dwelling if—\n(a) the dwelling has not at any time been occupied under a relevant lease granted by the authority; or\n(b) the dwelling has been so occupied, and—\n(i) since the last date on which it was so occupied, the authority have disposed of an interest in it under Part V of the Housing Act 1985 (the right to buy), or Chapter 1 of Part I of the Housing Act 1980 (the right to buy) or, with a relevant consent, to a person who, when he acquired that interest, occupied, or intended to occupy, it as his only or principal home;\n(ii) that disposal was made more than five years before the disposal from which the capital receipts are derived;\n(iii) at any time within that period the authority acquired a further interest in the dwelling; and\n(iv) the dwelling is a house (within the meaning which that expression has in section 44 of the Housing Act 1985).\n(5) For the purposes of paragraph (2), the amount of the reduction is the aggregate of the following amounts—\n(a) where the dwelling in relation to which a local authority make a disposal such as is mentioned in paragraph (3) (“the dwelling”) was acquired by the authority, the cost of the acquisition of the authority’s interest in the dwelling;\n(b) where the dwelling was constructed by or for the authority, the cost of the construction;\n(c) where the land on which the dwelling was constructed was acquired by the authority on or after the relevant date, the cost of the acquisition of the authority’s interest in the land;\n(d) where the dwelling was provided by the conversion of a building or part of a building (“the building”) by or for the authority, the cost of the conversion and, if the building was acquired by the authority on or after the relevant date, the cost of the acquisition of the authority’s interest in the building;\n(e) where, after the acquisition, construction or provision of the dwelling, the authority carried out works which amounted to the enhancement of the dwelling, the cost of the enhancement; and\n(f) the administrative costs of making the disposal.\n(6) For the purposes of paragraph (5), the cost of—\n(a) the acquisition of an interest in the dwelling or in any land or any building,\n(b) the construction or the enhancement of the dwelling, or\n(c) the conversion of a building or part of a building,\nis the aggregate of the initial cost of any credit arrangement entered into exclusively for the purpose of the acquisition, construction, enhancement or, as the case may be, conversion, and the value of any consideration falling to be given for the purpose concerned other than consideration under a credit arrangement.",
  "extent": "E+W",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 97 in force at 1.4.1997, see reg. 1(1)(b)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "1984 c. 29. Section 22 was repealed by the Housing (Consequential Provisions) Act 1985 (c. 71)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1957 c. 56. That Act was repealed by the Housing (Consequential Provisions) Act 1985."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "1996 c. 52."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "1980 c. 51 Part I was repealed by the Housing (Consequential Provisions) Act 1985."
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "uksi/1997/319",
      "affecting_title": "The Local Authorities (Capital Finance) Regulations 1997"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/319/regulation/97",
    "retrieved_at": "2026-10-29T12:25:41.411541+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}