The Local Authorities (Capital Finance and Approved Investments) (Amendment) Regulations 1995

Minimum revenue provision

9.  In regulation 26—

(a) in paragraph (1) for the words “Subject to paragraphs (5) to (11) below” substitute “Subject to paragraphs (5) to (13) below”;

(b) insert the following paragraph after paragraph (11)—

“(12) This paragraph applies to a police authority established under section 3 of the Police Act 1964(1) (as substituted by section 2 of the Police and Magistrates' Courts Act 1994(2)) for a police area, where the old police authority for that area was a committee of a county council constituted in accordance with section 2 or 3(4) of the Police Act 1964 (as it had effect before 8th August 1994).

(13) In relation to a local authority to which paragraph (12) above applies, the amount in respect of principal for the purposes of paragraph 15(1)(a) of Schedule 3 to the Act shall, for the financial year beginning on 1st April 1995, be four per cent. of the credit ceiling of the police authority on that day.”.

(1)

1964 c. 48.

(2)

1994 c. 29.