Section 5
SCHEDULE 1Information to be included in a prospectus for a BRS
The project
1A description of the work to be undertaken in carrying out the project to which the BRS relates.
2A description of any work already undertaken in carrying out the project.
3A description of any work undertaken by or on behalf of the levying authority to assess the feasibility of the project, and an explanation of the conclusions that the authority draws from that work.
4The authority’s estimate of the total cost of the project.
5The authority’s assessment of—
(a)the likely impact of the imposition of the BRS on businesses in the authority’s area;
(b)the likely benefits of the project for its area (including in terms of economic development);
(c)the relationship between the information given under paragraph (a) and the information given under paragraph (b).
6If planning permission or any other consent is required for an aspect of the project, information about—
(a)whether the consent has been given, and
(b)if it has, when it was given and how a copy of it (and of the application for it) can be obtained.
7A description of the expenditure for which the sums the authority receives in respect of the BRS are going to be used (and, if they are going to be used for only certain aspects of a project, a description of those aspects), and the authority’s assessment of the impact of that expenditure on the project.
8If some or all of the sums the authority receives in respect of the BRS are going to be used to make payments in respect of money loaned for the purpose of providing funding for the project, information about—
(a)the amount of money loaned,
(b)the period for which it is loaned,
(c)the other principal terms on which it is loaned (in particular, the rates of interest),
(d)the consequences of making payments in respect of the loan earlier than they are required to be made, and
(e)the arrangements that the authority would make if it thought that it was necessary for the amount of money loaned to be increased or the period for which it is loaned to be extended.
9An explanation of any arrangements that are going to be made under section 3(5), including in particular—
(a)a statement as to which functional body or bodies the arrangements are going to involve, and
(b)a description of the expenditure for which sums that the functional body receives in respect of the BRS are going to be used.
10An explanation of how the authority expects to discharge the duty under section 3(1) by reference to the expenditure described for the purposes of paragraphs 7 to 9.
11The authority’s policy for providing those liable to pay chargeable amounts with information about expenditure incurred and work undertaken on the project (including, in particular, an explanation of how and when such information is to be provided).
The amount of the BRS
12The amount the authority expects to raise from the imposition of the BRS (and, where the BRS is to be imposed for more than one financial year, the amount the authority expects to raise for each financial year).
13The amount of the multiplier for each financial year for which the BRS is to be imposed.
Liability to the BRS
14The authority’s policy on whether section 45 ratepayers are to be liable to the BRS.
15The date on which the chargeable period is to begin, and its duration.
16An explanation of the rules for the application of the reliefs (if any) to be applied in relation to the BRS under section 15.
17An explanation of the rules for cases within section 16(1) (interaction with BID levy and BRS-BID levy).
18An explanation of the arrangements for the collection of sums due in respect of the BRS (in particular, as to timing and how the arrangements compare with those for the collection of non-domestic rates).
Ballot on the imposition of the BRS
19In an initial prospectus—
(a)a statement as to whether there is to be a ballot on the imposition of the BRS;
(b)if there is to be a ballot, a statement as to whether there is to be one by virtue of paragraph (a) or (b) of section 7(1);
(c)if there is to be a ballot by virtue of paragraph (b) of section 7(1), an explanation of why the authority thinks that there should be one;
(d)if there is not to be a ballot, an explanation of why the authority thinks that there should not be one.
20In a final prospectus—
(a)a statement as to whether there was a ballot on the imposition of the BRS;
(b)if there was a ballot, a statement as to whether there was one by virtue of paragraph (a) or (b) of section 7(1);
(c)if there was a ballot by virtue of paragraph (b) of section 7(1), an explanation of why the authority thought that there should be one;
(d)if there was not a ballot, an explanation of why the authority thought that there should not be one.
Variations and contingencies
21The authority’s policy for deciding whether and to what extent—
(a)to vary the amount of the multiplier;
(b)to vary the length of the chargeable period;
(c)to make other variations to the BRS.
22The authority’s policy for publicising such variations before they take effect.
23The authority’s policy for a case where it thinks that the project is likely to—
(a)cost more than the authority was expecting;
(b)take more time to complete than the authority was expecting;
(c)cost less than the authority was expecting;
(d)take less time to complete than the authority was expecting.