The Local Government Act 1988 (Competition) (Financial Services) (England) Regulations 1995

means work in connection with the determination of payments in pursuance of any functions conferred on an authority by or under the Social Security Contributions and Benefits Act 1992 or the Social Security Administration Act 1992;

means work of any description falling within the finance defined activity other than work carried out by a bidding authority to which section 4 of the Act (works contracts: restrictions) applies;

means the Local Government Act 1988;

means the period commencing on the date when section 6 of the Act first applies to the defined authority in question in respect of specified work and ending on the date the work falling within paragraph 13(1)(e) of Schedule 1 to the Act is completed;

means the estimated total annual cost including overheads;

means the defined activity mentioned in section 2(2)(l) of the Act (financial services);

means an amount equal to the product of the following formula— where an amount equal to the total of the cost to a defined authority of the specified work and of determination work;

means the awarding of work before 1st April 1994 following a competitive process in the course of which at least three persons who are not defined authorities were invited to tender for that work.