OpenLegislation

Paragraph 72 I1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Section 119 (power to redistribute capital receipts of functional bodies) is amended as follows.

(2)

In subsection (2), for “expenditure for capital purposes” there is substituted “ capital expenditure ”.

(3)

In subsection (3)—

(a)

in paragraph (e), for “expenditure for capital purposes” there is substituted “ capital expenditure ”, and

(b)

for paragraph (f) there is substituted—

“(f)

for and in connection with treating the whole or a prescribed part of the relevant amount as added to the capital receipts of the assisted body, for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance);”.

Annotations

Commencement

I1

Sch. 7 para. 72 in force at 1.4.2004 by S.I. 2003/2938, art. 6(d)(i) (with art. 8, Sch.)