OpenLegislation

Regulation 3 Prescribed Proportions of Net Capital Receipts

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

For England, the prescribed proportion of an authority’s net capital receipts for the purposes of section 72(3)(d) of the Act shall, in the case of sums received on the disposal of assets of a class mentioned in column 1 of Schedule 1 hereto or the repayment of a grant or advance of a class so mentioned, be the relevant proportion mentioned in column 2 of that Schedule.

(2)

For Wales, the prescribed proportion of an authority’s net capital receipts for the purposes of section 72(3)(d) of the Act shall, in the case of sums received on the disposal of assets of a class mentioned in paragraphs 2, 4 or 5 of column 1 of Schedule 1, or the repayment of a grant or advance of a class mentioned in paragraphs 6, 7, 8 or 9 of that column, be the relevant proportion mentioned in column 3 of that Schedule.