Article 40 Power to charge interest to capitalI1
England, Wales and Scotland
Where the Commissioners, in the exercise of powers conferred upon them by any enactment, commence any work or operations, they may, during such period not exceeding five years from the commencement of the work as they determine, charge to capital as part of the cost of the work interest on any money raised to defray—
(a)
the cost of the acquisition of any lands for the purpose of the work; and
(b)
the expenses of constructing or carrying out the work.
Annotations
Commencement
- I1
Art. 40 in force at 23.7.2012, see art. 1(2)