The Business Improvement Districts (Wales) Regulations 2005

BID proposals, renewal proposals, alteration proposals and preliminary procedures

4.—(1) BID proposals, renewal proposals or alteration proposals, as the case may be, must include the matters mentioned in paragraphs 1, 2 and 3 of 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 must —

(a) send to the relevant billing authority —

(i) a copy of the BID proposals, alteration proposals or renewal proposals, as the case may be, together with a summary of —

(aa) the consultation process it has undertaken with those persons who are to be liable for the proposed BID levy;

(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 proposed agreement to be entered into with the relevant billing authority; and

(dd) the financial management arrangements for the BID body, and the arrangements for periodically providing the relevant billing authority with information on the finances of the BID body; and

(ii) a notice requesting the relevant billing authority to instruct the ballot holder to hold a BID ballot, an alteration ballot or a renewal ballot, as the case may be; and

(b) provide the relevant billing authority with such information as it shall reasonably require to satisfy itself 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 10.

(3) Where —

(a) a BID proposer decides to seek approval of BID proposals in a BID ballot;

(b) a BID body or a local authority BID body, as the case may be, decides to seek approval of alteration proposals in an alteration ballot or renewal proposals in a renewal ballot,

it must 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 to be liable for the proposed BID levy and who requests a copy.

(4) Where the relevant billing authority considers 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 must, 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.