The Local Government (Prescribed Expenditure) (Amendment) Regulations 1987
Local government structure
King's Printer of Acts of Parliament
2011-07-04
LOCAL GOVERNMENT, ENGLAND AND WALES
Section 72(3) of the Local Government, Planning and Land Act 1980 limits the prescribed expenditure of a local authority, and other bodies to whom Part VIII of the Act applies, to the aggregate of various amounts including its net capital receipts.“Prescribed expenditure” is essentially expenditure of a capital nature.
The Local Government (Prescribed Expenditure) (Amendment) Regulations 1987
Instrument
The Local Government (Prescribed Expenditure) (Consolidation and Amendment) Regulations 1987
SCHEDULEPRESCRIBED PROPORTIONS OF NET CAPITAL RECEIPTS
Regulation 2
Column 1
Column 2
Column 3
1
Land held for the purposes of the Housing Act 1985 not being land comprising a dwelling-house.
30%
–
2
Land comprising a dwelling-house held for the purposes of Part II of the Housing Act 1985 and normally let or available for letting, not being land mentioned in paragraph 3.
20%
15%
3
Land comprising a dwelling-house held for the purposes of Part II of the Housing Act 1985 and normally let or available for letting which–
a
is disposed of on a shared ownership lease, or
b
requires significant repair or improvement, or both, and is disposed of on condition that the purchaser executes significant repair or improvement or both within a specified period.
30%
–
4
Land (including buildings and structures on land) held other than for the purposes of the Housing Act 1985.
30%
50%
5
A vehicle or vessel and any movable or immovable plant, machinery or apparatus.
30%
50%
6
A grant or advance, not being one made under the Housing Act 1985 or mentioned in paragraph 7.
30%
50%
7
An advance made by virtue of regulations under sections 450A and 450B of the Housing Act 19855 to enable a person to meet a service charge.
20%
15%
8
An advance made to enable a person—
a
to acquire otherwise than from an authority an interest in a dwelling-house, or