76.—(1) This regulation applies where a collecting authority collects CIL on behalf of a charging authority.
(2) The collecting authority must pay to a charging authority an amount (X) equal to the payments it receives (Y) in respect of CIL charged by that charging authority less that part of Y which (in accordance with regulation 61(4)) the collecting authority applies to administrative expenses incurred by it in connection with collecting Y.
(3) Subject to paragraph (4), X must be paid to the charging authority by the collecting authority by the end of the financial quarter in which Y is received.
(4) Where the collecting authority first collects CIL on behalf of the charging authority, X must be paid to the charging authority by the end of the first full financial quarter following the day on which the collecting authority first receives a payment of CIL charged by that charging authority.
(5) In this regulation “financial quarter” means a period of three months ending with the last day of March, June, September or December.