# School Standards and Framework Act 1998, Paragraph A22: Meaning of “capital expenditure”


(1) For the purposes of paragraph A21, “proper accounting practices”, in relation to a governing or foundation body, or to trustees, means those accounting practices—
(a) which, whether by virtue of any enactment or by reference to any generally recognised published code or otherwise, are regarded as proper accounting practices to be followed in the keeping of accounts by that body, or as the case may be, those persons, or
(b) which, whether by virtue of any enactment or by reference to any generally recognised published code or otherwise, are regarded as proper accounting practices to be followed in the keeping of accounts by the relevant local authority.
(2) The “relevant local authority” means the local authority to whom notice of the disposal in question is required to be given under paragraph A2, A8 or A14.
(3) In the event of conflict between the accounting practices falling within paragraph (a) of sub-paragraph (1) and those falling within paragraph (b) of that sub-paragraph, only those falling within paragraph (a) are to be regarded as proper accounting practices.

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Source: https://www.legislation.gov.uk/ukpga/1998/31/schedule/22/paragraph/A22 (the official version)
Page: https://openlegislation.uk/school-standards-and-framework-act-1998/schedule-22/paragraph-A22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.