Explanatory note

These Regulations only apply to England. They make provision about the requirements for charging and licensing authorities to determine the net proceeds of road user charging and workplace parking levy schemes for the purposes of paragraph 1(2) of Schedules 23 and 24 to the Greater London Authority Act 1999 and paragraph 2 of Schedule 12 to the Transport Act 2000.

Regulation 2(1) provides for amounts received and expenses incurred in respect of a relevant scheme and the extent to which they are attributable to any financial year to be determined on an accruals basis including appropriate allowance for depreciation and impairment of fixed assets, charging of deferred charges to revenue account and capital financing charges (which are commonly known as cost of capital charges).

Regulation 2(2) provides for interest to be earned on the credit balances and payable on the debit balances.

Regulation 2(3) provides that such balances shall be calculated by deducting from the amounts received attributable to the financial year up to the end of the day in question the expenses relating to the relevant scheme and the net proceeds applied under the relevant statutory provisions attributable to the same period.

Regulation 2(4) provides that, subject to the above-mentioned matters, the calculations are to be made in accordance with “proper practices”. The term “proper practices” is defined in regulation 1(3), the definition being based on that in section 66(4) of the Local Government and Housing Act 1989.