The Local Authorities (Capital Finance) Regulations 1997

Credit ceilings of authorities for National Parks

121.—(1) In this regulation,

• “National Park authority” has the same meaning as in article 2 of the National Park Authorities (England) Order 1996(1) ; and

• “relevant council”, in relation to a National Park authority, means the council which, pursuant to paragraph 8 of Schedule 17 to the Local Government Act 1972, appointed the National Park Committee for the Park for which the authority is established.

(2) In relation to a National Park authority, the relevant council in relation to that authority, the Lake District Special Planning Board and the Peak Park Joint Planning Board, in addition to the modifications made in regulations 117, 118 and 119, Schedule 3 to the Act is modified by the insertion of the following paragraphs—

“l0H.— (1) In paragraphs 10I and 10J—

“the Board” means the Lake District Special Planning Board or the Peak Park Joint Planning Board;

“excluded Park arrangement” means any credit arrangement which is of a description excluded by regulations made by the Secretary of State under paragraph 11(2)(2), and vests in a National Park authority by virtue of a relevant agreement or award or by virtue of article 15 of the National Park Authorities (England) Order 1996(3) (“the Order”);

“National Park authority” has the same meaning as in article 2 of the Order;

“Park arrangement” means any credit arrangement, other than an excluded Park arrangement, which vests in a National Park authority by virtue of a relevant agreement or award or by virtue of article 15 of the Order;

“relevant borrowing” means borrowed money which a National Park authority is liable to repay by virtue of a relevant agreement or award or by virtue of article 15 of the Order; and

“relevant council”, in relation to a National Park authority, means the council which, pursuant to paragraph 8 of Schedule 17 to the Local Government Act 1972, appointed the National Park Committee for the Park for which the authority is established;

and in this paragraph, “relevant agreement or award” means an agreement under section 76 of the Environment Act 1995 (agreements as to incidental matters)(4) or an award under subsection (3) of that section.

10I.— (1) Where, in relation to a National Park authority, the specified amount for the relevant council on 31st March 1997 is a positive amount, the credit ceiling of the National Park authority on that day shall be increased by that amount, and the credit ceiling of the relevant council on that day shall be reduced by the same amount.

(2) Where, in relation to a National Park authority, the specified amount for the relevant council on 31st March 1997 is a negative amount, the credit ceiling of the National Park authority on that day shall be reduced by that amount, and the credit ceiling of the relevant council on that day shall be increased by the same amount.

(3) In relation to the National Park authority established for the Park for which a Board was established—

(a) where the specified amount for the Board on 31st March 1997 is a positive amount, the credit ceiling of the National Park authority on that day shall be increased by that amount; and

(b) where the specified amount for the Board on 31st March 1997 is a negative amount, the credit ceiling of the National Park authority on that day shall be reduced by that amount.

10J.— (1) For the purposes of paragraph 10I, in relation to a National Park authority—

(a) the specified amount for the relevant council or a Board on 31st March in any of the years 1991 to 1997 shall be determined—

(i) by adding to the specified amount for the council or the Board on 31st March in the immediately preceding year the specified increase for the council or the Board for the financial year in question; and

(ii) by subtracting from the resulting sum the specified decrease for the council or the Board for that financial year; and

(b) the specified amount for the relevant council or a Board on 31st March 1990 shall be nil.

(2) For the purpose of sub-paragraph (1), the specified increase for the relevant council or a Board for any financial year is the amount by which their credit ceiling is increased in that year by the use of credit approvals to any extent as mentioned in section 56(3) in respect of—

(a) their Park arrangements; and

(b) any expenditure for capital purposes which is defrayed out of relevant borrowing.

(3) For the purposes of sub-paragraph (1), the specified decrease for the relevant council or a Board for any financial year is the total of the following amounts—

(a) four per cent. of the specified amount for the council or the Board for 31st March in the financial year immediately preceding the financial year in question;

(b) the amount which is applied or charged by the council or the Board (as an amount of credit cover) as mentioned in paragraph (b) or (c) of section 50(3) in relation to any excluded Park arrangements; and

(c) in relation to any Park arrangements and any excluded Park arrangements, the amount set aside by the council or the Board from a revenue account or from the usable part of capital receipts as provision to meet credit liabilities being an amount over and above the aggregate of—

(i) the amount referred to in sub-paragraph (b); and

(ii) the amount which, in relation to such arrangements, the council or the Board are required so to set aside by virtue of any provision of this Act or any regulations made under this Act..”

(1)

S.I. 1996/1243; amended by S.I. 1996/2546.

(2)

See regulations 122 and 123 of these Regulations, and regulation 22 and 22A of the 1990 Regulations (regulation 22A was inserted by S.I. 1996/2539).

(3)

S.I. 1996/1243; amended by S.I. 1996/2546.

(4)

1995 c. 25.