SCHEDULE 7 Transitional provisions: Capital finance

Part II

5

Schedule 3 shall have effect as if—

a

paragraphs 1 to 9 were omitted;

b

in paragraph 10(1), for the words “1st April 1990" wherever they appear, there were substituted the words “23rd November 1995";

c

after paragraph 10(1) the following sub-paragraph were inserted—

1A

Subject to the provisions of paragraphs 11, 12, 13 and 14 below, a National Park authority’s credit ceiling on 23rd November 1995 shall be nil

d

in paragraphs 11, 12, 13 and 14, for the words “1st April 1990" wherever they appear, there were substituted the words “23rd November 1995"; and

e

in paragraph 15—

i

in sub-paragraph (1), after the word “sub-paragraphs" there were inserted the word “(1A)", and after the word “principal" there were inserted the words “(“the principal amount")"; and

ii

after sub-paragraph (1), the following sub-paragraph were inserted—

1A

For the financial year commencing on 1st April 1995 the principal amount for a National Park authority shall be nil.