# The Residuary Body for Wales (Capital Finance) Regulations 1995, Paragraph 3


Section 53 shall have effect as if:—
(a) in subsection (1)—
(i) at the beginning there were inserted the words “Subject to subsection (1A)”; and
(ii) for the words “shall issue to each local authority” there were substituted the words “shall issue to the Residuary Body”; and
(b) after subsection (1) the following subsection were inserted—
“(1A) A basic credit approval for the financial year beginning on 1st April 1994 shall be issued as soon as reasonably practicable after the establishment of the Residuary Body.”

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Source: https://www.legislation.gov.uk/uksi/1995/101/schedule/paragraph/3 (the official version)
Page: https://openlegislation.uk/residuary-body-for-wales-capital-finance-regulations-1995/schedule/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.