# The Non-Domestic Rating (Rates Retention) Regulations 2013, Regulation 14: Payments and transfers with respect to surplus and deficit


(1) A billing authority must pay to the Secretary of State the Secretary of State’s share and to any relevant precepting authority that authority’s share of a surplus during the course of the relevant year in accordance with the schedule of instalments.
(2) The Secretary of State and a relevant precepting authority must pay their respective shares of a deficit to the billing authority during the course of the relevant year in accordance with the schedule of instalments.
(3) A transfer under section 97(3) or 97(4) of the 1988 Act of a billing authority’s share of a surplus or deficit in respect of non-domestic rates must be made during the course of the relevant year in accordance with the schedule of instalments.

---
Source: https://www.legislation.gov.uk/ukdsi/2013/9780111532959/regulation/14 (the official version)
Page: https://openlegislation.uk/draft-non-domestic-rating-rates-retention-regulations-2013/regulation-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.