Regulation 3 Amendment of the Local Authorities (Funds) (England) Regulations 1992

in regulation 13(1)(b) and (2)(b) (holdings and investments) omit the words “in a prescribed investment”;

for regulation 13(3) substitute—

“(3)

In carrying out its function of investment pursuant to paragraphs (1)(b) or (2)(b), a billing authority shall have regard to the code of practice contained in the document entitled “Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes” (2017 Edition)^f2 published by the Chartered Institute of Public Finance and Accountancy.”;

omit Schedule 3 (prescribed investments).