{
  "url": "https://openlegislation.uk/local-government-act-2003-commencement-wales-order-2003/schedule-2/paragraph-3",
  "json_url": "https://openlegislation.uk/local-government-act-2003-commencement-wales-order-2003/schedule-2/paragraph-3.json",
  "legislation": "wsi/2003/3034",
  "legislation_title": "The Local Government Act 2003 (Commencement) (Wales) Order 2003",
  "legislation_url": "https://openlegislation.uk/local-government-act-2003-commencement-wales-order-2003",
  "path": "schedule/2/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": "Capital Finance — Part 1 of the Act",
  "text": "(1) Any credit arrangement —\n(a) within the meaning of section 48 of the Local Government and Housing Act 1989 (credit arrangements);\n(b) in existence immediately before 1st April 2004; and\n(c) which, if it had been entered into on 1st April 2004, would be a credit arrangement within the meaning of section 7 of the Act (“credit arrangements”),\nshall be treated as if it were a credit arrangement for the purposes of Chapter 1 of Part 1 of the Act (capital finance etc.).\n(2) The usable part of any capital receipt —\n(a) within the meaning of section 60(2) of the Local Government and Housing Act 1989 (the usable balance of capital receipts); and\n(b) which is not applied by the local authority in any financial year beginning before 1st April 2004,\nis to 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.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/wsi/2003/3034/schedule/2/paragraph/3",
    "retrieved_at": "2026-10-29T00:10:09.531845+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."
}