26Exchequer Grants
(1)Subject to the provisions of subsection (2) of this section, the aggregate amount of the Exchequer Grants payable to local authorities under the Act of 1954 in respect of the year 1956-57 and of any subsequent year shall not be an amount ascertained in accordance with paragraph (b) of subsection (1) of section one of that Act, but shall be an amount ascertained in accordance with the Sixth Schedule to this Act.
(2)If in the year 1956-57 or in any subsequent year—
(a)Exchequer Equalisation Grants are payable to local authorities in England and Wales under Part I of the Act of 1948 as originally enacted and there is available to the Minister of Housing and Local Government the power conferred on him by subsection (3) of section three of the said Act as originally enacted to direct increases in the rateable value for England and Wales for the purpose specified in subsection (4) of that section ; and
(b)the aggregate amount of the Exchequer Grants which, apart from the provisions of the foregoing subsection, would have been payable in that year to local authorities in Scotland under the Act of 1954 is greater than the amount which is payable to them under that subsection,
the aggregate amount of the Exchequer Grants payable to local authorities in Scotland under the Act of 1954 in that year shall not be ascertained in accordance with the Sixth Schedule to this Act, but shall be ascertained in accordance with paragraph (b) of subsection (1) of section one of the Act of 1954.