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Local Government Act 1974
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5(1)In each year an amount in the pound shall be prescribed for the purposes of section 48 of the [1967 c. 9.] General Rate Act 1967 (reduction of rates on dwellings by reference to domestic element) and different amounts in the pound may be so prescribed for different rating areas.
(2)In prescribing any amount or amounts in the pound under this paragraph for any year the Secretary of State shall seek to secure that the total amount of the reductions under section 48 of the General Rate Act 1967 for all rating areas will correspond to the aggregate amount of the domestic element prescribed for that year in pursuance of section 2(1) of this Act.
(3)In this paragraph " rating area" has the same meaning as in the General Rate Act 1967.
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