Statutory Instruments
2024 No. 602
Local Government, England
The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2024
Made
3rd May 2024
Laid before Parliament
7th May 2024
Coming into force
1st June 2024
The Secretary of State makes these Regulations in exercise of the powers conferred by sections 16(2)(a), 21(1) and 123(1) and (2) of the Local Government Act 2003( 1 ).
Citation, commencement and extent
1. —(1) These Regulations may be cited as the Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 2) Regulations 2024.
(2) These Regulations come into force on 1st June 2024.
(3) These Regulations extend to England and Wales.
Amendment of the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003
2. —(1)The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003( 2 ) are amended as follows.
(2) In regulation 1(5) (citation, commencement, application and interpretation)—
(a) omit the definition of “money market fund”;
(b) in the definition of “relevant period”, for “three” substitute “five” ;
(c) in the definition of “relevant UCITS”, after paragraph (c) insert—
“ or
an EEA UCITS which is a recognised scheme under section 271A or 272 of the Financial Services and Markets Act 2000 ( 3 ) , or
an EEA UCITS—
(3) In regulation 25(3) (expenditure to be capital expenditure), omit sub-paragraph (a).
(4) In regulation 30K(1) (fair value gains and losses of pooled investment funds), in the definition of “pooled investment fund” omit paragraph (a).
Signed by authority of the Secretary of State for Levelling Up, Housing and Communities
Simon Hoare
Parliamentary Under Secretary of State
Department for Levelling Up, Housing and Communities
3rd May 2024
S.I. 2003/3146 ; relevant amending instruments are S.I. 2004/534 , 2018/1207 , 2018/1386 and 2019/396 .
2000 c. 8 ; section 271A was inserted by the Financial Services Act 2021 (c. 22) , Schedule 9, Part 1, paragraph 1. Section 272 was amended by the Financial Services Act 2012 (c. 21) , Schedule 18, Part 1, paragraph 9(1) and (2)(f); by the Financial Services Act 2021, section 25(1) to (3); and by S.I. 2013/1388 , 2013/1773 and 2019/325 .
EUR 2017/1131 . Article 4(1) was amended by S.I. 2019/394 and Article 4(1)(aa) was inserted by the Financial Services Act 2021 (c. 22) , section 26(2).
S.I. 2013/1773 , which was amended by the Financial Services Act 2021, Schedule 9, Part 2, paragraphs 10 to 12; and by S.I. 2019/328 . There are other amending instruments but none is relevant.