88Apportionment of General Exchequer Contribution.
(1)The General Exchequer Contributions shall be apportioned amongst the several counties and county boroughs in manner hereinafter following, that is to say:—
(a)during the first four fixed grant periods there shall out of the General Exchequer Contribution for each year be apportioned to each county or county borough an amount equal to the appropriate percentage of the losses on account of rates and grants of the county or county borough:
(b)during the first four fixed grant periods the residue, and thereafter the whole, of every General Exchequer Contribution, shall each year be apportioned amongst the several counties and county boroughs in proportion to their weighted populations.
(2)The amount apportioned under this section to a county shall be called the county apportionment" and the amount so apportioned to a county borough shall be called " the county borough apportionment."