Citation, commencement and application

1. —(1) These Regulations may be cited as the Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No.4) Regulations 2012.

(2) These Regulations come into force on 30th September 2012 and apply only in relation to local authorities in England.

Amendment of the Regulations

2.The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003( 2 ) are amended as specified in regulations 3 to 6.

Specified amount

3. Regulation 14(1)(a)(iii) is omitted.

Capital receipt treated as reduced

4. In regulation 15—

(a) in paragraph (1), omit “paragraph (2)” and insert “paragraphs (2), (3) and (5)”; and

(b) after paragraph (4) insert—

“ (5) Paragraphs (2) and (3) shall not apply to capital receipts arising from the disposal of an interest in housing land which is the subject of an agreement made under section 80B of the Local Government and Housing Act 1989 ( 3 ) . ”

Use of capital receipts

5. In regulation 23(f) omit “regulation 12 or 13” and insert—

“ regulation 12, 13, the Schedule or pursuant to any agreement made under section 11(6) of the Local Government Act 2003; ” .

Schedule – Calculation of the sub-liability

6. In the Schedule —

(a) in paragraph 3(2), for—

“ (buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability. ” ;

substitute—

“ (available buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability. ” ;

(b) in paragraph 4—

(i) for the meaning of “B” substitute—

• “B means the total of the attributable debt associated with the dwellings disposed of from 1st April 2012 to the last day of the relevant quarter;”;

(ii) for the meaning of “C” substitute—

• “C means the total of the assumed debt for each quarter from quarter 1 to the relevant quarter;”; and

(iii) for the meaning of “F*”, substitute—

• “F** means the total of the value of F from quarter 1 to the previous quarter;”;

(c) for paragraph 6, substitute—

“ 6. F means—

• except where the amount is less than zero, in which case F means zero. ” ; and

(d) in the Table, in Column B for North West Leicestershire—

(i) for the amount “81,496.61” substitute “30 838.58” (the local authority share cap for each quarter of 2012-2013);

(ii) for the amount “93 362.24” substitute “50 904.60” (the local authority share cap for each quarter of 2013-2014); and

(iii) for the amount “106 942.31” substitute “57 086.06” (the local authority share cap for each quarter of 2014-2015).