5.—(1) BID proposals, renewal proposals or alteration proposals, as the case may be, shall include the matters mentioned in Schedule 1.
(2) Where a BID proposer decides to seek approval of BID proposals in a BID ballot or the BID body decides to seek approval of alteration proposals in an alteration ballot or renewal proposals in a renewal ballot, it shall–
(a)send to the local authority and the billing body–
(i)a copy of the BID proposals, alteration proposals or renewal proposals, as the case may be, together with–
(aa)a summary of the consultation it has undertaken with those persons eligible to vote on the proposals;
(bb)the proposed business plan (including the estimated cashflow, an estimate of the predicted revenue to be generated and the predicted expenditure to be spent under the BID arrangements, the predicted budget over the duration of the BID arrangements and the contingency margin included in the budget);
(cc)the financial management arrangements for the BID body, and the arrangements for periodically providing the local authority and billing body with information on the finances of the BID body; and
(dd)the names and addresses of each eligible person entitled to vote and the description of each relevant property for which such persons have the interest as eligible person (if the BID proposals provide that eligible persons are entitled to vote on the proposals);
(ii)a notice in writing requesting the local authority to instruct the ballot holder to hold a BID ballot in relation to the BID proposals, an alteration ballot in relation to the alteration proposals or a renewal ballot in relation to the renewal proposals, as the case may be; and
(b)provide the local authority and the billing body with such information as they shall reasonably require to satisfy themselves that the BID proposer or, as the case may be, the BID body, has sufficient funds to meet the costs of the BID ballot, the renewal ballot, or the re ballot in relation to the BID ballot, or the renewal ballot, as the case may be, should it be required to do so under regulation 12.
(3) Where–
(a)a BID proposer decides to seek approval of BID proposals in a BID ballot; or
(b)a BID body decides to seek approval of alteration proposals in an alteration ballot or renewal proposals in a renewal ballot,
it shall send a copy of the BID proposals, alteration proposals, or renewal proposals, as the case may be, and the proposed business plan, to any person who is eligible to vote on the proposals who requests a copy.
(4) Where the local authority is of the view that the BID proposals, renewal proposals or alteration proposals conflict with a policy formally adopted by and contained in a document published by the authority (whether or not the authority is under a statutory duty to prepare such document) the authority shall, as soon as reasonably practicable after receiving the proposals, notify the BID proposer or BID body, as the case may be, in writing explaining the nature of that conflict.