# The Local Government Changes for England (Capital Finance) Regulations 1995, Regulation 18: Credit ceiling of shadow authority


On the date on which a shadow authority come into existence—
(a) the shadow authority shall be treated as having a credit ceiling of nil; and
(b) for the purposes of paragraph 2 of Part II of Schedule 4 to the 1990 Regulations, the shadow authority’s credit ceiling on that day shall be treated as their adjusted initial credit ceiling.

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Source: https://www.legislation.gov.uk/uksi/1995/798/regulation/18 (the official version)
Page: https://openlegislation.uk/local-government-changes-for-england-capital-finance-regulations-1995/regulation-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.