CISR17240 - The Scheme: secondary legislation: regulation 23

This regulation sets out the arrangements for private finance transactions.

A payment under a construction contract is not a contract payment if –

• the person making the payment falls within FA04/S59 (1) (b) to (k): SI2005/2045 reg 23(1)(a), and
• the payment is made under a private finance transaction: SI2005/2045 reg 23(1)(b).

A definition of a private finance transaction is given at SI2005/2045 reg 23(2).

In connection with (2), a definition of ‘resources’ is provided at SI2005/2045 reg 23(3).

ENABLING PROVISION – FA04/S60 (7)