Part 1Structural and boundary change in England
Chapter 2Control of disposals etc
I125Directions: further provision about reserves
1
A direction under section 24—
a
may provide that the consent of the person or persons specified in the direction is not required for the inclusion, in a calculation under section F131A(3) or 42A(3) of the Local Government Finance Act 1992, of financial reserves of a description specified in the direction;
b
may, in relation to any authority or description of authority, provide that that consent is not required for the inclusion in such a calculation of an amount of financial reserves not exceeding an amount specified in or determined under the direction.
2
If a direction contains provision by virtue of subsection (1), the reference in section 24(1)(d) to an amount of financial reserves is to be read as a reference to an amount of financial reserves other than an amount permitted by the direction.