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1

These Regulations may be cited as the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 and shall come into force on 1st April 1990.

2

In these Regulations, —

  • “authorised institution” has the same meaning as in the Banking Act 19872;

  • “bill of exchange” has the meaning given by section 3 of the Bills of Exchange Act 18823;

  • “gilt-edged securities” means any securities specified by an order under paragraph 1 of Part I of Schedule 2 to the Capital Gains Tax Ac t 19794and the securities specified in Part II of that Schedule;

  • “The Stock Exchange” means The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited;

  • “Treasury bills” means Treasury bills within the meaning of the Treasury Bills Act 18775