1Name, commencement, application and interpretation#
(1)These Regulations are called the Local Authorities (Capital Finance) (Amendment) (Wales) Regulations 2003 and shall come into force on 1st April 2003.
(2)The amendments made by these Regulations apply only to local authorities in Wales.
(3)In these Regulations “the 1997 Regulations” (“Rheoliadau 1997”) means the Local Authorities (Capital Finance) Regulations 1997.
2Amendment of the Local Authorities (Capital Finance) Regulations 1997#
After regulation 12A (Expenditure not required to be charged to a revenue account — expenditure for capital purposes on property within the Housing Revenue Account) of the 1997 Regulations insert —“12B 1 Expenditure by a local authority in Wales in respect of liabilities for retirement benefits appropriated to a pension reserve in accordance with proper practices shall be expenditure falling within section 42(2).2 For the purposes of paragraph (1) “retirement benefits” means benefits payable pursuant to —a the Local Government Pension Scheme Regulations 1997;b the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2000;c the Firemen’s Pension Scheme Order 1992;d the Police Pensions Regulations 1987;e the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 1997.f any other regulations made under section 24 of the Superannuation Act 1972 (Compensation for loss of office, etc).”
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