Explanatory note

These Regulations amend the Billing Authorities (Anticipation of Precepts) Regulations 1992 (“the principal regulations”).

The principal regulations provide for billing authorities to include in the calculations of their budget requirements under section 32 of the Local Government Finance Act 1992 certain amounts in respect of precepts not yet issued by local precepting authorities. Regulation 2 of these Regulations amends these amounts to include any increase or decrease in the retail prices index.

Regulation 3 of these Regulations replaces regulation 3 of the principal regulations which provides for the amount to be paid by billing authorities to local precepting authorities. These Regulations provide that, whether or not a local precept is anticipated in the calculations of the billing authority’s budget requirements, the billing authority shall pay the amount of the precept, if it is issued before 1st March of the year in which the calculations are made, or before the calculations are completed, and shall pay the lesser of that amount and the amount which could have been anticipated, if the precept is issued on or after this date or after completion of the calculations.