Paragraph 6 I1

England and Wales Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 2 para. 1 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 2 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 3 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 4 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 5 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 6 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 7 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 8 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 9 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)
Sch. 2 para. 10 coming into force by Local Authorities (Capital Finance) 1997 reg. 1(1)(b)

Subject to paragraph 8, for the purposes of Part 2 of this Schedule, the amount of the authority’s interest savings for the current year shall be determined in accordance with the formula—

(D - MC) \times \frac{DI}{D}

where—

“D” and “MC” have the same meanings as in paragraph 4; and
“DI” is the aggregate of the amounts calculated in accordance with paragraph 7.

Annotations

Commencement

I1: Sch. 2 para. 6 in force at 1.4.1997, see reg. 1(1)(b)