§ Mr. TippingTo ask the Secretary of State for the Environment if a local authority will be entitled to spend all the capital receipts it receives from an airport sale; and if he will make a statement.
§ Mr. Robin Squire[holding answer 26 November 1992]: Under regulations which came into force on 13 November 1992, local authorities may spend in full the capital receipts obtained between that date and 31 December 1993 from sales of most assets, including share or loan capital in airport companies acquired before 15 February 1989.