The Local Authorities (Capital Finance) Regulations 1997

Increase in non-housing component where minimum revenue provision in the last year was nil

150.  For the purposes of regulation 147, where the authority’s minimum revenue provision for the last year was nil by virtue of paragraph 15(2) of Schedule 3 to the Act, the authority shall determine the amount which they would have set aside in the last year, if their credit ceiling on the last day of the year before the last year had been greater than nil, by virtue of—

(a) regulation 134, in respect of any advances made for the purpose of meeting expenditure which, if it had been incurred after 1st April 1990, would have been for any purpose other than housing purposes; and

(b) regulation 136, in respect of the use of supplementary credit approvals to any extent as mentioned in section 56(3) in respect of—

(i) expenditure for any purpose other than housing purposes; and

(ii) credit arrangements entered into for any purpose other than housing purposes.