(1)This section applies as regards any body—
(a)which is established by or under an Act,
(b)which as regards the financial year beginning in 1989 has power (conferred by or under an Act) to levy a rate by reference to the value or yearly value of property, and
(c)which is not a charging authority.
(2)The Secretary of State may by regulations provide as mentioned in one of the following paragraphs as regards any such body—
(a)that the body shall have no power to levy the rate as regards any time specified in the regulations and falling after 31 March 1990;
(b)that the body’s power to levy the rate as regards any time specified in the regulations and falling after 31 March 1990 shall be modified in a manner specified in the regulations.
(3)Regulations providing as mentioned in subsection (2)(b) above as regards a body may include provision—
(a)as to the property (or description of property) in respect of which the rate may be levied and the property (or description of property) in respect of which the rate may not be levied;
(b)as to the body’s expenditure, or the proportion of its expenditure, which may be met from the proceeds of the rate.
(4)Regulations may provide as mentioned in this section in such way as the Secretary of State thinks fit (whether by amending provisions or otherwise).
(5)In this section “Act” includes a private or local Act.