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(1)The Secretary of State may, in accordance with the provisions of this Part of this Act, prescribe a maximum for the rate made or, as the case may be, the precept issued for any financial year by an authority to which this Part of this Act applies and which is designated by him in relation to that year in accordance with those provisions.
(2)Where an authority is designated as aforesaid in relation to a financial year its powers and duties in respect of the making of a rate or issuing a precept for that year shall have effect subject to the provisions of this Part of this Act.
(3)This Part of this Act applies to—
(a)the council of a county or district;
(b)the Greater London Council, the council of a London borough and the Common Council of the City of London;
(c)the Inner London Education Authority ; and
(d)the Council of the Isles of Scilly.
(4)A maximum prescribed under this section for a rate shall apply to the rate exclusive of any part made for giving effect to—
(a)a precept issued to the rating authority by another authority to which this Part of this Act applies or by the Receiver for the Metropolitan Police District; or
(b)a levy made on the rating authority under section 13 of the London Regional Transport Act 1984.
(5)In the case of the Inner London Education Authority the power to prescribe a maximum under this section shall be construed as a power to prescribe a maximum for such part of any precept issued by the Greater London Council as is attributable to expenditure of the Authority; and any maximum prescribed under this section in the case of the Greater London Council shall apply only to such part of any precept issued by the Council as is not attributable to such expenditure.
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