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The Local Authorities (England) (Property etc.) Order 1973
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- 1973 No. 1861
- Article 34
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Capital and renewal and repairs funds
34.—(1) A local authority may transfer the balance on any capital fund or renewal and repairs fund transferred to them under article 16 or the amount of any such fund received by them under article 14 or 15 to the credit of a capital fund or a renewal and repairs fund, as the case may be, established by them under Schedule 13 to the Act.
(2) Where any matter in respect of which a repayable advance which has not been fully repaid has been made from a capital fund or a renewal and repairs fund is transferred by the Act or this order to any authority, that authority may treat the outstanding amount of the advance as an advance from a capital fund or a renewal and repairs fund established by them under Schedule 13 to the Act and make such payments to such fund as the authority consider appropriate, but otherwise any liability to make repayments in respect of the advance shall cease.
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