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.