Regulation 70 Reimbursement by the Secretary of StateI1
England and Wales
(1)
This regulation applies if a collecting authority’s levy balance is a negative amount for the financial quarter ending on the last day of March in any year.
(2)
The Secretary of State must make a payment to the collecting authority of an amount equal to the amount of the deficit.
(3)
For the purposes of Step 3 in regulation 69(2), the levy balance for that financial quarter is treated as being nil.