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Paragraph 9

Original text. Later amendments are not shown.

The addition that, pursuant to Part I, is to be paid to an acquiring authority is to be calculated by reference to the formula—

ED×F

where—

  • D is the total number of properties transferred by the Development Board for Rural Wales on 1st April 1996;

  • E is the total number of those properties in relation to which, on 1st April 1996, that acquiring authority was required to administer and fund any housing benefit; and

  • F is £13,343,

and the sum to be paid to each acquiring authority shall be calculated in accordance with that formula to the nearest pound, by disregarding an odd amount of 50 pence or less and by treating an odd amount exceeding 50 pence as a whole pound.