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Regulation 4 Deficit in the BRS revenue account – levying authority

Original text. Later amendments are not shown.

(1)

Subject to paragraph (2), after the end of each financial year of a BRS, a levying authority shall—

(a)

make good any deficit in its revenue account from its general fund by 31st July in the following financial year; or

(b)

apply any credit in its revenue account towards making good to its general fund any amount charged to that fund under sub-paragraph (a) in the ten years immediately preceding that financial year.

(2)

Paragraph (1) shall not apply where the imposition of a BRS has come to an end in that financial year.