§ Mr. BurstowTo ask the Secretary of State for the Environment, Transport and the Regions if he will provide a Keeling schedule in respect of the relevant sections of 381W (a) the Local Government and Housing Act 1989 and (b) other Acts amended by the Local Government Finance (Supplementary Credit approvals) Bill. [5123]
§ Mr. RaynsfordWe do not propose to add such a schedule to the Local Government Finance (Supplementary Credit Approvals) Bill. However, the following sets out the text of section 55(3) of the Local Government and Housing Act 1989 as it would be if amended by Clause 1 of the Bill, and the text of section 54(5) of that Act as it would be if amended by Clause 2 of the Bill
Section 55(3) In determining the amount of a basic credit approval, the Secretary of State shall not take account of capital receipts to the extent that the authority concerned are required to set aside the receipts as provision for credit liabilities; and in determining the amount of a basic credit approval or a supplementary credit approval, the Secretary of State or other Minister shall not take account of capital receipts to the extent that they are applied or paid as mentioned in subsections (7) to (9) of section 59 below.Section 54(5) In the case of a supplementary credit approval issued in respect of expenditure which is treated by the authority concerned as expenditure for capital purposes by virtue only of direction sunder section 40(6) above, the approval may specify an amortisation period.