Local Government Finance Act 1992

41 Issue of precepts by local precepting authorities

(1) For each financial year a local precepting authority may issue a precept in accordance with this section.

(2) A precept issued to a billing authority under this section must state, as the amount payable by that authority for the year, the amount which has been calculated (or last calculated) by the precepting authority under section 50 below as its budget requirement for the year.

(3) The Secretary of State may by regulations make provision that a billing authority making calculations in accordance with section 32 above (originally or by way of substitute) may anticipate a precept under this section; and the regulations may include provision as to—

(a) the amounts which may be anticipated by billing authorities in pursuance of the regulations;

(b) the sums (if any) to be paid by such authorities in respect of amounts anticipated by them; and

(c) the sums (if any) to be paid by such authorities in respect of amounts not anticipated by them.

(4) A precept under this section must be issued before 1st March in the financial year preceding that for which it is issued, but is not invalid merely because it is issued on or after that date.