Section 25 Directions: further provision about reservesI1

England and Wales

(1)

A direction under section 24—

(a)

may provide that the consent of the person or persons specified in the direction is not required for the inclusion, in a calculation under section F131A(3) or 42A(3) of the Local Government Finance Act 1992, of financial reserves of a description specified in the direction;

(b)

may, in relation to any authority or description of authority, provide that that consent is not required for the inclusion in such a calculation of an amount of financial reserves not exceeding an amount specified in or determined under the direction.

(2)

If a direction contains provision by virtue of subsection (1), the reference in section 24(1)(d) to an amount of financial reserves is to be read as a reference to an amount of financial reserves other than an amount permitted by the direction.

Annotations

Textual amendments

F1: Words in s. 25(1)(a) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 50; S.I. 2011/2896, art. 2(i)

Commencement

I1: S. 25 in force at 1.11.2007 for E. by S.I. 2007/3136, art. 2(a)