# The Local Government Changes for England (Capital Finance) (Amendment) Regulations 1996, Regulation 4: Usable receipts of designated authority


In regulation 11—
(a) for paragraph (2) (a) substitute the following—
“(a) on the reorganisation date there were added to the usable receipts of the designated authority an amount equal to the aggregate of—
(i) the usable receipts of the abolished authority on the last day of the preliminary period; and
(ii) the usable PCL, if any, of the abolished authority;”; and
(b) for paragraph (3) substitute the following paragraph—
“(3) Section 60 shall have effect in relation to a relinquishing authority as if, on the relevant date, the relinquishing authority’s usable receipts were—
(a) reduced by an amount equal to the aggregate of the relevant amounts for the participant authorities; and
(b) increased by an amount equal to the aggregate of all amounts “KK”, if any, determined in relation to the relinquishing authority and the participant authorities in accordance with paragraph 5A of the Schedule to the Transfer of Property Regulations.”

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Source: https://www.legislation.gov.uk/uksi/1996/2826/regulation/4 (the official version)
Page: https://openlegislation.uk/local-government-changes-for-england-capital-finance-amendment-regulations-1996/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.