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The Local Authority (Capital Finance and Accounting) (Scotland) Regulations 2016

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9.—(1) Borrowing of money by a local authority for the purposes of the following funds is not to be treated as borrowing by the authority for the purposes of these Regulations—

(a)a superannuation fund which the authority is required to keep by virtue of the Superannuation Act 1972;

(b)a pension fund which the local authority is required to keep by virtue of the Public Service Pensions Act 2013;

(c)a trust fund of which the authority is a trustee;

(d)a common good fund.

(2) Entry into a credit arrangement by a local authority for the purposes of a fund mentioned in paragraph (1) is not to be treated as being entry into a credit arrangement by the authority for the purposes of these Regulations.

(3) The temporary use by a local authority of money forming part of a fund mentioned in paragraph (1), otherwise than for the purposes of the fund, is to be treated as borrowing by the authority for the purposes of these Regulations.

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