11 Use of capital receipts
Local Government Act 2003 (2003 c 26) | Legislation

11  Use of capital receipts

(1)     The Secretary of State may by regulations make provision about the use of capital receipts by a local authority.

(2)     Regulations under subsection (1) may, in particular—

(a)     make provision requiring an amount equal to the whole or any part of a capital receipt to be used only to meet—

(i)     capital expenditure, or

(ii)     debts or other liabilities;

(b)     make provision requiring an amount equal to the whole or any part of a capital receipt

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