Regulation 6 Schedule – Calculation of the sub-liability

In the Schedule —

(a)

in paragraph 3(2), for—

“(buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.”;

substitute—

“(available buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.”;

(b)

in paragraph 4—

(i)

for the meaning of “B” substitute—

“B means the total of the attributable debt associated with the dwellings disposed of from 1st April 2012 to the last day of the relevant quarter;”;

(ii)

for the meaning of “C” substitute—

“C means the total of the assumed debt for each quarter from quarter 1 to the relevant quarter;”; and

(iii)

for the meaning of “F*”, substitute—

“F** means the total of the value of F from quarter 1 to the previous quarter;”;

(c)

for paragraph 6, substitute—

“6.

F means—

$B - C - F * *$

except where the amount is less than zero, in which case F means zero.”; and

(d)

in the Table, in Column B for North West Leicestershire—

(i)

for the amount “81,496.61” substitute “30 838.58” (the local authority share cap for each quarter of 2012-2013);

(ii)

for the amount “93 362.24” substitute “50 904.60” (the local authority share cap for each quarter of 2013-2014); and

(iii)

for the amount “106 942.31” substitute “57 086.06” (the local authority share cap for each quarter of 2014-2015).