Regulation 5 Maximum amount of levies
Where a relevant precepting power is subject to a limit (“the relevant limit”) imposed by or under the relevant Act on the whole or part of the amount for which the levying body may issue a precept to, make a levy on, or seek payment from the relevant authority, the whole or such part of the amount of a levy issued by the body under these Regulations by reference to that power shall be subject to the relevant limit.
Where the relevant limit is expressed in terms of the product of a rate of a specified amount in relation to a financial year—
for the purposes of a levy issued in respect of the financial year beginning in 1990, the product of a rate of that amount for an area shall be taken to be the product taken into account for the purposes of determining the relevant limit in respect of the financial year beginning in 1989; and
for the purposes of a levy issued in respect of any subsequent financial year, the product of a rate of that amount for that area shall be taken to be the amount ascertained in accordance with sub-paragraph (a) above, increased or decreased in proportion to the difference between the retail prices index for September of the financial year preceding that in respect of which the levy is issued and the retail prices index for September 1989.
References in paragraph (2)(b) above to the retail prices index are references to the general index of retail prices (for all items) published by the Department of Employment or, if that index is not published for any month, to any substituted index or index figures published by that Department.