After paragraph (2) of regulation 13 (loans fund advances) insert—

“(3)

Except for an advance to which regulation 14 applies, a local authority must repay a loans fund advance in accordance with proper accounting practices.”.

For regulation 14 (duty to make a statutory repayment of loans fund advances), substitute—

“14.

(1)

This regulation applies to any loans fund advance made prior to 1 April F12023.

(2)

A local authority may, if it considers it prudent to do so, vary—

(a)

the period over which the advance is to be repaid to the loans fund,

(b)

the amount of any of the statutory repayments it is due to make to the loans fund in each financial year in that period, or

(c)

both (a) and (b).

(3)

Paragraph (2)—

(a)

applies whether the period or amount referred to in that paragraph was determined under these Regulations or prior to them, but

(b)

does not apply to any borrowing for which the consent of the Scottish Ministers was required, whether under regulation 2(2) or otherwise, to the extent that the Scottish Ministers have determined the period and the amount of repayment.”.