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5.—(1) This paragraph applies where a levying authority serves a notice (“the new notice”) under section 19(3), served in the circumstances mentioned in section 19(2), of the Act in respect of a financial year (“the year concerned”) and the billing authority is required by section 20(4) of the Act to make new calculations.
(2) The billing authority shall submit to the relevant levying authority a return (a “variation provisional return”) setting out—
(a)the amount it has transferred from its collection fund to the relevant levying authority’s revenue account during the year concerned;
(b)the total amount it expects to transfer from its collection fund to the relevant levying authority’s revenue account during the year concerned; and
(c)the amount of the difference.
(3) For the purposes of sub-paragraph (2), the total amount the billing authority expects to transfer from its collection fund to the relevant levying authority’s revenue account during the year concerned shall be calculated in accordance with the formula—
where—
C is the billing authority’s estimate of the aggregate amount it will collect by way of BRS in respect of each day of the financial year to which the new notice does not apply;
D is the billing authority’s estimate of the aggregate amount it will collect by way of BRS in respect of each day of the financial year to which the new notice applies; and
E is 5% of the aggregate of C and D.
(4) Paragraph 3 shall apply to the estimation of “C” and “D” as it applies to the estimation of “A”.
(5) The variation provisional return shall include an explanation of how the billing authority arrived at “C” and “D”.
(6) The variation provisional return is to be submitted no later than the 31st day after receipt of the new notice.
(7) If the amount referred to in sub-paragraph (2)(c) is greater than zero, the rules in paragraph 4 shall apply to the variation provisional return as if—
(a)in sub-paragraph (1) of that paragraph “the amount shown in its provisional return” were a reference to the amount referred to in sub-paragraph (2)(c); and
(b)in sub-paragraph (2) of that paragraph “the number of months in which BRS is to be collected in the relevant year” were a reference to the number of months in which BRS is to be collected in the relevant year after the variation to which the new notice relates takes effect.
(8) If the total amount calculated under sub-paragraph (3) is equal to the aggregate of the instalments the billing authority has paid to the relevant levying authority in the relevant year, no further instalments shall be payable.
(9) If the total amount calculated under sub-paragraph (3) is less than the aggregate of the instalments the billing authority has paid to the relevant levying authority in the relevant year no further instalments shall be payable and the relevant levying authority shall either—
(a)refund to the billing authority from its revenue account the amount of the difference; or
(b)authorise the billing authority to reduce an instalment or instalments to be transferred under paragraph 4 after the date of the calculation made under this paragraph by the amount of the difference.
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