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)