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The Local Authorities (Capital Finance and Accounting) (Wales) Regulations 2003
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Repayment of loan etc. to a local authority
6.—(1) For the purposes of Chapter 1 of Part 1, the following sums must be treated as capital receipts—
(a)the repayment to a local authority of, or payment to a local authority in respect of, any grant or other financial assistance given by the local authority of such a description that, if the giving of that financial assistance had been expenditure incurred at the time of the repayment or payment, it would have constituted capital expenditure; and
(b)the repayment to a local authority of the principal of an advance made by the local authority for such a purpose that, if the making of the advance had been expenditure incurred at the time of the repayment, it would have constituted capital expenditure.
(2) For the purposes of paragraph 1(a), sums received by a local authority in connection with the repayment of any grants or other financial assistance —
(a)to an officer of the authority pursuant to the terms and conditions of that officer’s employment; or
(b)in connection with the appointment of a person as an officer of the authority, to that person
in so far as, apart from this regulation, it would be a receipt for capital purposes, shall not be expenditure for capital purposes.
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