Source: http://www.legislation.gov.uk/uksi/1997/319/schedules/made
Timestamp: 2016-07-27 06:21:05
Document Index: 598860058

Matched Legal Cases: ['ART 1', 'ART 2', 'art 3', 'ART 3', 'ART 4', 'art 2', 'art 2']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchThe Local Authorities (Capital Finance) Regulations 1997You are here:1997 No. 319Schedules onlyTable of ContentsContentMore ResourcesPrevious: SignatureNext: Explanatory NotePlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As made)Opening OptionsOpen whole InstrumentOpen Instrument without schedulesOpen Schedules onlyStatus:This is the original version (as it was originally made). This item of legislation is currently only available in its original format.Regulations 41, 42 and 99SCHEDULE 1USE OF LAND FOR A SPECIFIED PURPOSE In relation to a local authority’s use of land, a purpose is specified in a category of this Schedule if it falls within any of the following categories, or if a dwelling is situated on the land and the purpose is use as a dwelling by a person employed for a purpose falling within any of the following categories except category 10—
1. the fire service or police service, the magistrates' courts services, the probation service, or the functions conferred on the authority under section 2 of the Civil Defence Act 1948(1)
2. a hostel for the homeless, or the social services functions of a local authority within the meaning given to that expression in the Local Authority Social Services Act 1970(2);
10. a house or other dwelling provided by a local authority for a person in their employment who is entitled to occupy it as as a term of his employment (other than a dwelling falling within any of the preceding categories).
Regulation 138SCHEDULE 2MINIMUM REVENUE PROVISION SAVINGS AND COMMUTATION ADJUSTMENTSPART 1Interpretation1. In this Schedule—
“the authority”, “the current year”, “the housing amount” and “the last year” have the same meanings as in Part XII of these Regulations;
“commuted payment” means a commuted payment(3) (within the meaning which that expression has in section 157) which, in the financial year beginning on 1st April 1992, was paid to the authority, or to the Public Works Loans Commissioners to reduce or extinguish any debt of the authority;
“periodic payment” means any annual or other periodic payment in relation to which a commuted payment was determined; and
“relevant debt” means—
(a)the amount by which any debt of the authority to the Public Works Loan Commissioners was reduced by a commuted payment; or
(b)where such a debt was extinguished by a commuted payment, the amount of the debt.
PART 2Commutation Adjustments2. The authority’s commutation adjustment for the current year shall be determined in accordance with the formula—
“G” is the aggregate of the following amounts—
(a)where commuted payments were calculated by the Secretary of State on the basis of calculations of periodic payments contained in a notice given by the authority, the amount of periodic payments which, according to the notice, the authority would have received in the current year if no payments had been commuted; and
(b)the total amount, if any, calculated by the authority for the current year in accordance with Part IV of Schedule 6 to the 1990 Regulations;
“I” is the amount of interest savings determined in accordance with paragraph 6;
“IR” is the amount in respect of interest determined in accordance with paragraph 9; and
“M” is the amount of the authority’s minimum revenue provision savings determined for the current year in accordance with Part 3 of this Schedule.
PART 3Minimum Revenue Provision Savings3. Subject to paragraph 5, where the authority’s adjusted credit ceiling on the last day of the last year was a negative amount, the authority’s minimum revenue provision savings for the current year shall be determined in accordance with the formula—
“ACC” is the authority’s adjusted credit ceiling on the last day of the last year;
“D” is the total amount of the authority’s relevant debts;
“H” is two per cent. of the amount, if any, by which the authority’s housing amount for the current year is reduced in consequence of—
(a)the setting aside of any amount in accordance with section 63(2) in respect of a commuted payment; or
(b)any reduction in the authority’s credit ceiling by virtue of the making of a commuted payment to the Public Works Loan Commissioners(4); and
“MC” is an amount equal to the aggregate of—
(a)the authority’s minimum revenue provision savings determined in accordance with Part II of Schedule 6 to the 1990 Regulations(5) for the financial years beginning on the 1st April 1992, 1993, 1994, 1995 and 1996;
(b)where the current year is a financial year beginning after 31st March 1998, the authority’s minimum revenue provision savings determined for the financial year ending on that date and for any other financial year ending before the beginning of the current year;
(c)the authority’s commutation adjustments determined in accordance with Part III of Schedule 6 to the 1990 Regulations for the financial years beginning on 1st April 1992, 1993, 1994, 1995 and 1996; and
(d)where the current year is a financial year beginning after 31st March 1998, the authority’s commutation adjustment determined for the financial year ending on that date and for any other financial year ending before the beginning of the current year.
4. Subject to paragraph 5, where the authority’s adjusted credit ceiling on the last day of the last year was nil or a positive amount, the authority’s mimimum revenue provision savings for the current year shall be determined in accordance with the formula—
“D”, “H” and “MC” have the same meanings as in paragraph 3.
5. The authority’s mimimum revenue provision savings for the current year may be nil but shall not be a negative amount.
PART 4INTEREST SAVINGS AND THE AMOUNT IN RESPECT OF INTEREST6. Subject to paragraph 8, for the purposes of Part 2 of this Schedule, the amount of the authority’s interest savings for the current year shall be determined in accordance with the formula—
“D” and “MC” have the same meanings as in paragraph 4; and
“DI” is the aggregate of the amounts calculated in accordance with paragraph 7.
7. In order to calculate item “DI” in the formula in paragraph 6, the authority shall calculate for each relevant debt an amount equal to the percentage of the debt which was chargeable by way of interest on the debt on the date on which the debt was reduced or extinguished by a commuted payment.
8. The authority’s interest savings for the current year may be nil but shall not be a negative amount.
9. Subject to paragraph 10, for the purposes of Part 2 of this Schedule, the amount in respect of interest for the current year shall be determined in accordance with the formula—
“S” is the total amount set aside by the authority under section 63(2) as provision to meet credit liabilities in respect of any commuted payments paid to them under section 157(1)(a);
“T” is the total amount which, at any time before the beginning of the current year, has been applied by the authority under section 64(2) for the purpose mentioned in regulation 157(1); and
“R” is a rate of interest which is expressed as a percentage with no more than three decimal places, and is equal to 0.125 per cent. less than the arithmetical mean of the London Inter-Bank Bid rates of interest for three month deposits published during the last year, at monthly intervals, by The Stationery Office.
10. The amount in respect of interest for the current year may be nil but shall not be a negative amount.
Regulation 162SCHEDULE 3SUBORDINATE LEGISLATION REVOKEDYear and NumberTitleExtent of revocation1990/432The Local Authorities (Capital Finance) Regulations 1990All the Regulations1990/1273The Local Authorities (Capital Finance) (Amendment) Regulations 1990All the Regulations1991/500The Local Authorities (Capital Finance) (Amendment) Regulations 1991All the Regulations1992/502The Local Authorities (Capital Finance) (Amendment) Regulations 1992All the Regulations1992/1618The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1992All the Regulations1992/2819The Local Authorities (Capital Finance) (Amendment) (No. 3) Regulations 1992All the Regulations1992/3257The Local Authorities (Capital Finance) (Amendment) (No. 4) Regulations 1992All the Regulations1993/520The Local Authorities (Capital Finance) (Amendment) Regulations 1993All the Regulations1993/2014The Local Authorities (Capital Finance) (Amendment) (No. 2) Regulations 1993All the Regulations1993/3054The Local Authorities (Capital Finance) (Amendment) (No. 3) Regulations 1993All the Regulations1994/553The Local Authorities (Capital Finance) (Amendment) Regulations 1994All the Regulations1995/850The Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1995All the Regulations except regulation 131995/1526The Local Authorities (Capital Finance) (Amendment) Regulations 1995All the Regulations1995/1982The Local Authorities (Capital Finance and Approved Investments) (Amendment No. 2) Regulations 1995All the Regulations except regulation 121996/568The Local Authorities (Capital Finance) (Amendment) Regulations 1996All the Regulations except regulations 15 and 161996/2121The Local Authorities (Capital Finance) (Amendment No. 2) Regulations 1996All the Regulations1996/2539The Local Authorities (Capital Finance) (Amendment No. 3) Regulations 1996All the Regulations(1)1948 c. 5.
(3)1947 c. 41.
(4)See paragraph 14(1) of Schedule 3 to the Act and regulation 142.
(5)Schedule 6 to the 1990 Regulations was inserted by paragraph 2(h) of the Local Authorities (Capital Finance) (Amendment) Regulations 1993 (S.I. 1993/520).