The Local Government (Prescribed Expenditure) (Amendment) Regulations 1988
Section 72(3) of the Local Government, Planning and Land Act 1980 limits the prescribed expenditure of a local authority, and other bodies to whom Part VIII of the Act applies, to the aggregate of various amounts including its net capital receipts. “Prescribed expenditure” is expenditure, essentially of a capital nature, described in Schedule 12 to the Act.