Local Government Finance Act 1988 (c. 41)

SCHEDULES

[F1 SCHEDULE 7B E+W Local retention of non-domestic rates

Textual Amendments

F1 Sch. 7B inserted (with effect in accordance with s. 1(6) of the amending Act) by Local Government Finance Act 2012 (c. 17), s. 1(4), Sch. 1

Part 7 E+W Levy payments, safety net payments and distribution of remaining balance

Calculation of safety net payments E+W

26 (1) The Secretary of State must calculate in relation to each relevant authority—

(a) whether the Secretary of State is required to make a safety net payment to the authority for the year, and

(b) if so, the amount of that payment.

(2) The calculation must be made—

(a) as soon as is reasonably practicable after the end of the year, or

(b) if the authority is subject to a requirement imposed by a direction under paragraph 43 (direction to make calculations or supply information) or by or under regulations under paragraph 44 (regulations about calculations and supply of information) for the purposes of this paragraph, as soon as is reasonably practicable after the time for compliance with that requirement,

whichever is the later.

(3) The calculation must be made in accordance with regulations under paragraph 25.

(4) As soon as is reasonably practicable after making a calculation under this paragraph in relation to a relevant authority, the Secretary of State must notify that authority of—

(a) whether, in accordance with the calculation, the Secretary of State is required to make a safety net payment to the authority for the year, and

(b) if so, the amount of that payment in accordance with the calculation.

(5) This paragraph is subject to regulations under paragraph 28 (payments on account).]

Modifications etc. (not altering text)

C1 Sch. 7B para. 26 modified (17.2.2014) by The Non-Domestic Rating (Designated Areas) Regulations 2014 (S.I. 2014/98), regs. 1, 5, Sch. 2