# Local Government Act 2003, Paragraph 72


(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);”.

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Source: https://www.legislation.gov.uk/ukpga/2003/26/schedule/7/paragraph/72 (the official version)
Page: https://openlegislation.uk/local-government-act-2003/schedule-7/paragraph-72
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.