Regulation 24 Adjusted initial credit ceiling and adjusted credit ceiling

A local authority’s adjusted initial credit ceiling shall be their initial credit ceiling, determined in accordance with Part III of Schedule 3 to the Act, as modified for the purposes of Part IV of that Schedule in accordance with Part I of Schedule 4 to these Regulations.

A local authority’s adjusted credit ceiling at any time shall be their credit ceiling at any such time, determined in accordance with Part III of Schedule 3 to the Act, as modified for the purposes of Part IV of that Schedule in accordance with Part II of Schedule 4 to these Regulations.