Local Government, England Citation and commencement 1 1 These Regulations may be cited as the Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2019. 2 These Regulations come into force on the date on which regulation 5 of the Local Government (Miscellaneous Amendments) ( EU Exit) Regulations 2018 comes into force. Amendment of the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003 2 The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003 are amended as follows. Interpretation 3 In regulation 1(5)— a after the definition of “dwelling-house”, insert— “ EEA UCITS ” has the same meaning as in section 237 of the Financial Services and Markets Act 2000 ; b after the definition of “quarter”, insert— “relevant commencement date” means the time at which regulation 5 of the Local Government (Miscellaneous Amendments) (EU Exit) Regulations 2018 comes into force; “relevant period” means the period beginning with the relevant commencement date and ending immediately before the time at which the three year anniversary of the relevant commencement date falls; ; c after the definition of “relevant quarter”, insert— “relevant UCITS” means— a UK UCITS; or during the relevant period, an EEA UCITS which was recognised under section 264 of the Financial Services and Markets Act 2000 immediately prior to the relevant commencement date; or during the relevant period, a sub-fund of an EEA UCITS which— is a recognised scheme for the purposes of Part 17 of the Financial Services and Markets Act 2000 by virtue of regulation 62(1) of the Collective Investment Schemes (Amendment etc. )(EU Exit) Regulations 2019 , and meets the conditions in regulation 63(3) of the Collective Investment Schemes (Amendment etc.)(EU Exit) Regulations 2019; ; d after the definition of “specified amount”, insert— “sub-fund” means a sub-fund of a UCITS within the meaning of section 237(4) of the Financial Services and Markets Act 2000; e after the definition of “sub-liability”, omit “and”; f after the definition of “the 2011-2012 buy back reduction”, insert— “UCITS” has the same meaning as in section 236A of the Financial Services and Markets Act 2000; and “UK UCITS” has the same meaning as in section 237 of the Financial Services and Markets Act 2000. Expenditure to be capital expenditure 4 In regulation 25(3)— a in sub-paragraph (a), after “money market fund” insert “which is a UCITS”; b in sub-paragraph (c), for “Part 4 of the Finance Act 2006” substitute “Part 12 of the Corporation Tax Act 2010”; c after sub-paragraph (c), omit “or”; d after sub-paragraph (d), insert— or e an investment in a relevant UCITS, . Fair value gains and losses of pooled investment funds 5 In regulation 30K(1), in the definition of “pooled investment fund”— a in sub-paragraph (a), after “money market fund” insert “which is a UCITS”; b after sub-paragraph (b), omit “or”; c after sub-paragraph (c) insert— ; or d a relevant UCITS . Signed by authority of the Secretary of State for Housing, Communities and Local Government Rishi Sunak Parliamentary Under Secretary of State Ministry of Housing, Communities and Local Government 28th February 2019