{
  "url": "https://openlegislation.uk/water-and-sewerage-authorities-rate-of-return-scotland-order-1996/article-3",
  "json_url": "https://openlegislation.uk/water-and-sewerage-authorities-rate-of-return-scotland-order-1996/article-3.json",
  "legislation": "uksi/1996/744",
  "legislation_title": "The Water and Sewerage Authorities (Rate of Return) (Scotland) Order 1996",
  "legislation_url": "https://openlegislation.uk/water-and-sewerage-authorities-rate-of-return-scotland-order-1996",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Value of net assets",
  "text": "The value of an authority’s net assets for a financial year shall, for the purposes of section 83 of the Act, be the aggregate of—\n(a) the deemed value of that authority’s capital at the beginning of the year (as shown in the statement of accounts prepared by the authority under section 87 of the Act); and\n(b) the average level of investment by that authority in net operating assets during that year.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/744/article/3",
    "retrieved_at": "2026-10-29T12:48:06.934397+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}