Regulation 6
(1)
Unless otherwise agreed between the assisting authority and the new governing body, a sum payable under section 37(2) or (3) shall be paid by equal monthly instalments, the first of which shall be paid on the relevant date, in accordance with the following table—
| Amount payable as a proportion of the net budget share | Period for repayment |
|---|---|
| Up to 1% (inclusive) | 10 months |
| More than 1% | 14 months. |
(2)
In paragraph (1) above “the relevant date” means 31st January 1994 or, if sooner, the last day of the month following the month in which section 18(1) of the Local Government Finance Act 1982f1 (auditor’s reports) is complied with in respect of the assisting authority’s accounts for the relevant financial year.
Annotations
Footnotes
- f1