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4. In relation to financial years beginning on or after 1st April 1997, in Schedule 2—
(a)in paragraph 2(12) for “0.992” there is substituted “0.962”;
(b)for sub-paragraph (1) of paragraph 8 there is substituted—
“8.—(1) It shall be assumed that the amount described in paragraph 6 of Schedule 1 to these Regulations will, in the case of each authority or description of authority listed in the following table, be equal to the percentage of the amount described in sub-paragraph (2) below which is shown in the table in relation to that authority or description:
| Percentage | |
|---|---|
| The council of an inner London borough or the Common Council of the City of London | 2.4 |
| The council of an outer London borough | 2.3 |
| Any authority not mentioned above | 1.4”. |
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