2(1)For each chargeable financial year the following shall be credited (as items of account) to the account kept for the year—E+W
(a)sums received by the Secretary of State in the year under section 54 above,
(b)sums received by him in the year under [F1section 59] above, and
(c)sums received by him in the year under paragraph 5 below [F2or regulations made under sub-paragraph (15) of that paragraph].
(2)For each chargeable financial year the following shall be debited (as items of account) to the account kept for the year—
(a)payments made by the Secretary of State in the year [F3under paragraph 5(10) or (14) below [F4, under regulations made for the purpose mentioned in paragraph 4(7) below] or under regulations made under paragraph 5(15) or 6(5) below], and
(b)payments made by him in the year under [F5paragraph 12 or 15 below] (as the case may be).
Textual Amendments
F1Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 81:1), s. 139, Sch. 5 para. 41
F2Words in Sch. 8 para. 2(1)(c) added (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(1) (with s. 118(1)(2)(4))
F3Words in Sch. 8 para. 2(2)(a) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(a) (with s. 118(1)(2)(4))
F4Words in Sch. 8 para. 2(2)(a) inserted (18.11.2003 for E., 27.11.2003 for W.) by Local Government Act 2003 (c. 26), s. 128(6), Sch. 7 para. 26(2); S.I. 2003/2938, art. 3(a) (with art. 8 Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I
F5Words in Sch. 8 para. 2(2)(b) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(b) (with s. 118(1)(2)(4))
Modifications etc. (not altering text)
C1Sch. 8 para. 2 modified by S.I. 1990/493, reg. 8(2)
Sch. 8 para. 2 modified (1.4.1993) by S.I. 1992/2996, reg. 4(2)
Sch. 8 para. 2 amended (1.4.1993) by S.I. 1993/613, reg. 5(2)
C2Sch. 8 para. 2 amended by S.I. 1990/609, reg. 5(2)
C3Sch. 8 para. 2(1) modified (16.7.1992) by 1992 c. 46, s. 5(1) (with s. 8(1)); S.I. 1992/1642, art.2
Sch. 8 para. 2(1) modified (24.2.1994 with effect as mentioned in s. 3(1) of the amending Act) by 1994 c. 3, s. 3