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The new "prudential" Capital Finance System was introduced on 1 April 2004 under Part 1 of the Local Government Act 2003. It completely replaced the system under Part IV of the Local Government and Housing Act 1989. Authorities may however find it useful to have historical information on the former system and links are given below.
PRIMARY LEGLISLATION
Local Government and Housing Act 1989Part IV Schedule 3 Provisions Supplementing Part IV SECONDARY LEGISLATION
General Capital Finance Regulations
Local Authorities (Capital Finance) Regulations 1997 (SI No.319) - AmendmentsInvestments
Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 (SI No.426) - Amendments Borrowing
Local Authorities (Borrowing) Regulations 1990 (SI No.767) - Amendments Companies
Local Authorities (Companies) Order 1995 (SI No.849) - Amendments GUIDANCE
The Capital Finance Guide which gave informal advice on the old system is now obsolete. Please note especially that the old guidance on Capitalisation Directions (paragraphs 4.6 and 4.7) has been completely superseded by ODPMs Guidance Note of 26 June 2006.
Queries related to Capital Finance and PFI should be sent to capital.finance@communities.gsi.gov.ukThe DCLG is not responsible for the contents or reliability of the linked web sites and does not necessarily endorse the views expressed within them. Listing should not be taken as endorsement of any kind. We cannot guarantee that these links will work all of the time and we have no control over the availability of the linked pages.
Updated on 10 August 2006
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