- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
9.—(1) Where under the Funds Regulations, as modified by these Regulations, or under these Regulations—
(a)a designated authority in relation to a billing authority is entitled to receive a payment from a major precepting authority, or a payment in respect of a major precepting authority’s share in a deficit in the collection fund of the abolished billing authority, then the designated authority shall be required to make a payment to each of the other successor authorities in relation to the abolished authority, or
(b)a designated authority in relation to a billing authority is required to make a payment to a major precepting authority, or a payment in respect of a major precepting authority’s share in a surplus in the collection fund of the abolished billing authority, then the designated authority shall be entitled to receive a payment from each of the other successor authorities in relation to the abolished authority,
and such payments to or by the designated authority shall be calculated and paid in accordance with this regulation.
(2) A payment to or by a designated authority by or to a successor authority referred to in paragraph (1) above shall be —
(a)calculated as a proportion of the payment which the designated authority is entitled to receive, or required to make, which proportion all the successor authorities in relation to the abolished authority shall seek to agree, and if no such agreement is reached before the first amount becomes payable to or by the designated authority, then the proportion shall be determined by that authority as a proportion which is generally the same as the proportion which the estimated amount of each successor authority, calculated under regulation 4, bears to the abolished billing authority’s estimated share as defined in regulation 4, or, where for the immediately preceding year there is no estimated surplus or deficit in the collection fund of the relevant billing authority, the proportion shall be calculated according to tax base in the same manner as the proportion of a billing authority’s estimated share is calculated under regulations 4(4) and (5), and
(b)made at such time and in such manner as the designated authority and the relevant successor authority may agree, and if no such agreement is reached before the first amount becomes payable to or by the designated authority the time and manner of payment shall be determined by the designated authority.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: