16Local authority's estimated expenditure relevant factor in calculating amount of resources element payable to them
In Part II of Schedule 1 to the [1966 c. 51.] 1966 Act (which among other things specifies the method of calculating the amount, if any, of the resources element payable to a local authority), in sub-paragraph (a) of paragraph 2 (which, for the purposes of the said calculation allows the Secretary of State, if he is of the opinion that the rate fixed by the local authority is unnecessarily high, to use as multiplicand a lesser figure than the number of pence in the pound of that rate) for the words " of the opinion that the local authority have fixed an unnecessarily high rate, such " there shall be substituted the words— “, as regards the local authority, satisfied—
(i)that they have fixed a rate higher than that required to provide the sufficient moneys mentioned in section 108(2) of the [1973 c. 65.] Local Government (Scotland) Act 1973 ; or
(ii)as is mentioned in subsection (1)(c), as read with subsection OA), of section 5 of this Act,
such”.