Paragraph 1

For each year of the imposition of a BRS, a levying authority or a functional body shall carry to the credit of the account amounts equal to the items listed in this Part of the Schedule.

• Item 1: BRS revenues, comprising—

  1. (a)

     amounts transferable by a levying authority which is a billing authority in respect of BRS (including the amount of any financial contributions) from its collection fund under regulation 3 of and Schedule 1 to the Transfers Regulations;

  2. (b)

     amounts transferable by a billing authority (which is not a levying authority) in respect of BRS (including the amount of any financial contributions) from its collection fund under regulation 4 of and Schedule 2 to the Transfers Regulations;

  3. (c)

     amounts receivable by a functional body under section 3(5) of the Act.

• Item 2: Credit balance from previous year

• Any credit balance shown in the account for the previous year.