# The Local Government Act 2003 (Commencement No. 1 and Transitional Provisions and Savings) Order 2003, Paragraph 18: Capital finance—Part 1 of the Act


The usable part of any capital receipt—
(a) within the meaning of section 60(2) of the 1989 Act (the usable balance of capital receipts); and
(b) which is not applied by the local authority in any financial year beginning before 1st April 2004,
shall be treated as if it were a capital receipt within the meaning of section 9 of the Act (“capital receipt”) for the purposes of Chapter 1 of Part 1 of the Act.

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Source: https://www.legislation.gov.uk/uksi/2003/2938/schedule/paragraph/18 (the official version)
Page: https://openlegislation.uk/local-government-act-2003-commencement-no-1-and-transitional-provisions-and-savings-order-2003/schedule/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.