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The Local Authorities (Capital Finance and Accounting) (Wales) (Amendment) Regulations 2018

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Interpretation

3.  In regulation 1 (interpretation), in paragraph (4)—

(a)in the definition of “associates”, for “section 135” substitute “section 136”;

(b)omit the definition of “CIPFA”;

(c)in the definition of “dwelling-house”, for “section 135” substitute “section 136”;

(d)after the definition of “long lease”, insert—

“money market fund” means a collective investment scheme which—

(a)

in accordance with Directive 2009/65/EC(1) of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities, is an undertaking for collective investment in transferable securities subject to that Directive; and

(b)

is authorised or recognised under Part XVII of the Financial Services and Markets Act 2000(2);;

(e)in the definition of “qualifying disposal”, omit “135 or”;

(f)after the definition of “secure tenant”—

(i)omit “and”;

(ii)insert—

“securitisation transaction” means a disposal for consideration by a local authority of all or part of its interest in specified revenues, where disposal includes both sale and assignment; and.

(1)

OJ No L 302, 17.11.2009, p. 32, amended by 2010/78/EU (OJ No L 331, 15.12.2010, p. 120), 2011/61/EU (OJ No L 174, 1.7.2011, p. 1), 2013/14/EU (OJ No L 145, 31.5.2013, p. 1-3), and 2014/91/EU (OJ No L 257, 28.8.2014, p. 186-213).

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