# The Local Authorities (Capital Finance)(Amendment) Regulations 1995, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations further amend the Local Authorities (Capital Finance) Regulations 1990.
Regulation 2 makes provision for a further reduction which a local authority may make in their capital receipts before setting aside the reserved part as provision for credit liabilities. The capital receipt derived from a disposal of a dwelling is to be reduced where (among other conditions)—
(a) the consideration for the disposal includes the assignment or surrender of the lease of a flat granted under Part V of the Housing Act 1985 (the right to buy) or under section 32 or 43 of that Act with the benefit of a discount of 44 per cent. or more of the value of the lease; and
(b) there is attributed, as part of the consideration for the acquisition of the dwelling by the former tenant, an amount equal to the price paid on the grant of the lease which is assigned or surrendered.
Regulation 3 makes consequential amendments to regulation 20 of the 1990 Regulations.

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Source: https://www.legislation.gov.uk/uksi/1995/1526/note (the official version)
Page: https://openlegislation.uk/local-authorities-capital-financeamendment-regulations-1995/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.