{
  "url": "https://openlegislation.uk/local-government-changes-for-england-payments-to-designated-authorities-minimum-revenue-provision-regulations-1995/schedule/paragraph-2",
  "json_url": "https://openlegislation.uk/local-government-changes-for-england-payments-to-designated-authorities-minimum-revenue-provision-regulations-1995/schedule/paragraph-2.json",
  "legislation": "uksi/1995/2895",
  "legislation_title": "The Local Government Changes for England (Payments to Designated Authorities) (Minimum Revenue Provision) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/local-government-changes-for-england-payments-to-designated-authorities-minimum-revenue-provision-regulations-1995",
  "path": "schedule/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "Subject to paragraphs 3 and 4 below, the amount of the component in respect of principal for the current year shall be the aggregate of—\n(a) where the amount which the designated authority is, or would be, required to set aside as mentioned in regulation 4(1) includes or, as the case may be, would include one or more amounts determined as mentioned in regulation 4(2)(a), the amount or amounts calculated in accordance with the formula—\nE×F; or\n(b) where one or more of the amounts mentioned in regulation 4(2)(b) is a positive amount, the amount or amounts calculated in accordance with the formula—\n((G×H)-J)×K; where—\nE is, as the case may be—\n(i) an amount determined by the designated authority for the current year for the purposes of sub-paragraph (b) of paragraph (1) of regulation 26 of the 1990 Regulations in respect of any relevant housing advances or, as the case may be, relevant non-housing advances; or\n(ii) an amount determined by the designated authority for the current year for the purposes of sub-paragraph (c) of paragraph (1) of regulation 26 of the 1990 Regulations in respect of any relevant housing SCAs or, as the case may be, relevant non-housing SCAs;\nF is, as the case may be—\n(i) where item E is an amount determined in respect of relevant housing advances or, as the case may be, relevant housing SCAs, the housing proportion; or\n(ii) where item E is an amount in respect of relevant non-housing advances or, as the case may be, relevant non-housing SCAs, the non-housing proportion;\nG is, as the case may be—\n(i) the modified housing amount;\n(ii) the modified non-housing amount; or\n(iii) the modified relevant amount;\nH is—\n(i) where item G is the modified housing amount, the housing proportion; and\n(ii) where item G is the modified non-housing amount or the modified relevant amount, the non-housing proportion;\nJ is an amount equal to so much of the total of any amounts payable by the participant authority in accordance with regulation 6 as the component in respect of principal for any financial year preceding the current year, and any amounts paid in respect of that component by that authority in any such year in accordance with regulation 8, as that authority and the designated authority agree to be attributable to, as the case may be—\n(i) the modified housing amount;\n(ii) the modified non-housing amount; or\n(iii) the modified relevant amount;\nor, in default of such agreement, as the designated authority determines to be so attributable; and\nK is—\n(i) where item G is the modified housing amount, 2%percnt; and\n(ii) where item G is the modified non-housing amount or the modified relevant amount, 4%percnt;.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/2895/schedule/paragraph/2",
    "retrieved_at": "2026-10-29T12:58:41.691287+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}