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3.—(1) This regulation applies—
(a)in relation to a new parish, the prospective billing authority, the relevant year, the relevant chairman and the relevant parish council (if any); and
(b)as respects the period beginning on the day after that on which the establishment order is made and ending immediately before the day on which a precept for the relevant year is issued by the relevant parish council or the relevant chairman (as the case may be).
(2) Subject to paragraph (3), in making calculations in accordance with section 32 of the 1992 Act (calculation of budget requirement), originally or by way of substitute(1), the prospective billing authority shall anticipate a precept by taking into account for the purposes of its estimate under subsection (2)(a) of that section an amount equal to that specified in the establishment order, in relation to the relevant parish council or the relevant chairman (as the case may be), for the purposes of these Regulations.
(3) For the purposes of paragraph (2), section 32 of the 1992 Act shall have effect as if subsection (6) were omitted.
(4) The relevant parish council or the relevant chairman (as the case may be), shall make the calculations required by section 50 of the 1992 Act (calculation of budget requirement by local precepting authorities) for the relevant year so as to secure that the amount calculated as its budget requirement for that year does not exceed the amount specified in relation to the council or the chairman in the establishment order.
As to substitute calculations see section 37 of the 1992 Act.
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