Statutory Instruments
2001 No. 384
LOCAL GOVERNMENT, ENGLAND
The Local Authorities (Capital Finance) (Rate of Discount for 2001/02) (England) Regulations 2001
Made
13th February 2001
Laid before Parliament
20th February 2001
Coming into force
1st April 2001
The Secretary of State for the Environment, Transport and the Regions, in exercise of the powers conferred upon him by section 49(2) of the Local Government and Housing Act 1989( 1 ) hereby makes the following Regulations:
Citation, commencement and extent
1. These Regulations, which extend to England only( 2 ), may be cited as the Local Authorities (Capital Finance) (Rate of Discount for 2001/02) (England) Regulations 2001 and shall come into force on 1st April 2001.
Rate of discount
2. The percentage rate of discount prescribed for the financial year beginning on 1st April 2001 for the purposes of defining “r” in section 49(2) of the Local Government and Housing Act 1989 shall be 7.5 per cent.
Signed by authority of the Secretary of State for the Environment, Transport and the Regions
Hilary Armstrong
Minister of State
Department of the Environment, Transport and the Regions
13th February 2001
The relevant powers of the Secretary of State have been devolved, in relation to Wales, by the National Assembly for Wales (Transfer of Functions) Order 1999 (S.I. 1999/672 ); see the reference to the Local Government and Housing Act 1989 in Schedule 1.