32. Capitalising expenditure relating to approved infrastructure projects

Only an item of nationally significant infrastructure expenditure that —

relates to an approved infrastructure project;

is incurred by the Government;

is met from any sums which are borrowed under the Significant Infrastructure Government Loan Act 2021 and then paid into the Development Fund; and

is worked out according to regulation 33,may be capitalised as an asset under this Part in connection with the Estimates, any statement required in respect of every financial year by section 18(1) of the Act to be prepared at the end of that financial year and determining whether or not there is any draw on the past reserves of the Government.

In this regulation, “Estimates” means the annual estimates and the supplementary estimates.

Only an item of nationally significant infrastructure expenditure that —

relates to an approved infrastructure project;

is incurred by the Government;

is met from any sums which are borrowed under the Significant Infrastructure Government Loan Act 2021 and then paid into the Development Fund; and

is worked out according to regulation 33,may be capitalised as an asset under this Part in connection with the Estimates, any statement required in respect of every financial year by section 18(1) of the Act to be prepared at the end of that financial year and determining whether or not there is any draw on the past reserves of the Government.

In this regulation, “Estimates” means the annual estimates and the supplementary estimates.