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Paragraph 2 I1I2C1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The billing authority may make arrangements under this Schedule (“BRS-BID arrangements”) in respect of the business improvement district.

(2)

For that purpose, it does not matter whether the BID arrangements in respect of the district are yet in force.

(3)

The purpose of BRS-BID arrangements is to enable—

(a)

the projects specified in the arrangements to be carried out for the benefit of the district or those who live, work or carry on an activity in the district, and

(b)

those projects to be financed (in whole or in part) by a levy (“BRS-BID levy”) imposed on persons who have a relevant property interest.

(4)

A project specified in BRS-BID arrangements need not be a project that is specified in the BID arrangements.

(5)

Where a project specified in BRS-BID arrangements is a project that is specified in the BID arrangements, the ways in which the project may be financed by BRS-BID levy include offsetting the amount of a liability for BRS-BID levy against the amount of a liability for BID levy.

(6)

A person has a relevant property interest if the person has an interest of a prescribed description in a hereditament that is—

(a)

situated in the district, and

(b)

shown in the local non-domestic rating list maintained for the billing authority.

(7)

“Prescribed” means prescribed by regulations; but the regulations may prescribe only freehold, leasehold or commonhold interests.

Annotations

Modifications

C1

Sch. 2 applied (with modifications) (E.) (2.12.2014) by The Business Improvement Districts (Property Owners) (England) Regulations 2014 (S.I. 2014/3204), art. 1(1), Sch. 5 para. 2

Commencement

I1

Sch. 2 para. 2 in force at 16.7.2014 for specified purposes for E. by S.I. 2014/1860, art. 2

I2

Sch. 2 para. 2 in force at 2.12.2014 for E. in so far as not already in force by S.I. 2014/3200, art. 2