(1)A direction under section 24—
(a)may provide that the consent of the person or persons specified in the direction is not required for the inclusion, in a calculation under section [F131A(3) or 42A(3)] of the Local Government Finance Act 1992, of financial reserves of a description specified in the direction;
(b)may, in relation to any authority or description of authority, provide that that consent is not required for the inclusion in such a calculation of an amount of financial reserves not exceeding an amount specified in or determined under the direction.
(2)If a direction contains provision by virtue of subsection (1), the reference in section 24(1)(d) to an amount of financial reserves is to be read as a reference to an amount of financial reserves other than an amount permitted by the direction.
Textual Amendments
F1Words in s. 25(1)(a) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 50; S.I. 2011/2896, art. 2(i)
Commencement Information
I1S. 25 in force at 1.11.2007 for E. by S.I. 2007/3136, art. 2(a)