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Regulation 11 Holdings and investments

Original text. Later amendments are not shown.

(1)

Where a sum has been transferred to its general fund under regulation 10(1), a charging authority shall—

(a)

immediately retransfer the sum if such a retransfer is required to enable the authority to meet payments or transfers from its collection fund, or

(b)

otherwise retransfer the sum as and when it thinks fit.

(2)

Where a sum is retransferred under paragraph (1) there shall be transferred with it an additional amount representing interest on such sum calculated in accordance with regulation 12.