UK Laws - Legal Portal
 
Navigation
News

Statutory Instrument 1987 No. 351

The Local Government (Prescribed Expenditure) (Amendment) Regulations 1987

(The document as of February, 2008)

-- Back --

STATUTORY INSTRUMENTS

1987 No. 351

LOCAL GOVERNMENT, ENGLAND AND WALES

The Local Government (Prescribed Expenditure) (Amendment) Regulations 1987

Made4th March 1987
Laid before Parliament11th March 1987
Coming into force1st April 1987

    The Secretary of State for the Environment, in relation to England, and the Secretary of State for Wales, in relation to Wales, in exercise of the powers conferred upon them by sections 72(3), 75(5) and 84 of, and paragraph 4 of Schedule 12 to, the Local Government, Planning and Land Act 1980[1] and of all other powers enabling them in that behalf, hereby make the following Regulations:
        1.—(1)  These Regulations may be cited as the Local Government (Prescribed Expenditure) (Amendment) Regulations 1987 and shall come into force on 1st April 1987.

        (2)  Regulations 1(2) and 4 of the Local Government (Prescribed Expenditure) (Amendment) Regulations 1985[2] are revoked.
        2.    The Local Government (Prescribed Expenditure) Regulations 1983[3] are hereby amended as follows-
       (a) in regulation 2—
          (i) the definition of"the Housing Acts" shall be deleted;
         (ii) in the definition of"housing association" for"section 189(1) of the Housing Act 1957" there shall be substituted"section 5(1) of the Housing Act 1985"[4];
         (iii) for the definition of"shared ownership tenancy" there shall be substituted the following definition-
          ""shared ownership lease" has the meaning ascribed to it by section 622 of the Housing Act 1985";
       (b) in regulation 4 for"Part V of the Housing Act 1957" there shall be substituted"Part II of the Housing Act 1985";
       (c) regulation 7 shall be deleted;
       (d) for Schedule 1 there shall be substituted the Schedule to these Regulations;
       (e) for paragraph 2 of Schedule 3 there shall be substituted the following paragraph-
              "2.—(1)  Expenditure on the acquisition of an interest in or right over any vehicle, vessel, plant, machinery or apparatus ("the asset") where—
            (a) the agreement which creates that right or interest or any arrangement entered into in connection with that agreement does not provide or do not together provide for—
              (i) the property in the asset to transfer to the authority under the agreement or arrangement or any renewal or continuation of the agreement or arrangement; or
              (ii) the renewal or continuation of the agreement or arrangement for a further period for a consideration which is materially less than what would be regarded, at the time when the agreement or arrangement is made, as the open market rental for that further period; or
              (iii) the value of the asset at the date of the expiry or termination of the agreement or arrangement to accure directly or indirectly to the authority; and
            (b) the amount estimated by the authority at the date of the agreement mentioned in paragraph (a) or, if earlier, the arrangement so mentioned, as the value of the asset at the expiration of that agreement or, if later, that arrangement equals or exceeds ten per cent of the value of the asset at the date of that agreement or arrangement.

              (2)  For the purpose of estimating the value first mentioned in sub-paragraph (1)(b), the date on which an agreement or arrangement expires shall, if the agreement or arrangement makes provision for the extension of its term, be taken to be the date on which the extended term would come to an end." .


Notes:

[1] 1980 c. 65.

[2] S.I. 1985/257.

[3] S.I. 1983/296, amended by S.I. 1984/223, 1985/257.

[4] 1985 c. 68.

-- Back --

Stat




Other