Amendment of Local Government Finance Act 1992
2. Section 33 of the Local Government Finance Act 1992(1) shall be amended by the insertion after subsection (3A) of the following subsection—
“(3B) In the case of a Welsh county council or county borough council, the aggregate of the sums mentioned in item P in subsection (1) above shall be reduced by the amount calculated in accordance with the following formula—
J is the council’s estimate of the amount by which the aggregate for the year of the chargeable amounts under Part III of the 1988 Act (non-domestic rating) will be less than it would be apart from section 47 of that Act (discretionary relief);
K is the council’s estimate of the reductions and remittances which will be made for the year under section 49 of that Act (reduction or remission of liability);
L is the council’s estimate of the deductions which, in pursuance of rules made by virtue of paragraph 4(5)(a) of Schedule 8 to that Act (non-domestic rating contributions), will be made for the year as regards the operation of sections 47 and 49 of that Act.”.
1992 c. 14. Section 33(3) was substituted and section 33(3A) was added by S.I. 1994/246.