Regulation 10A Liability for variation in precept payment where no surplus or deficitF1
Where, as regards a financial year beginning in or after 2014—
a billing authority has made the estimate required by regulation 10,
there is no surplus or deficit in its collection fund for the preceding financial year, and
a variation to any payment or instalment of a payment relating to a precept issued (or last issued) to a billing authority by a major precepting authority for the preceding financial year under section 40(2)(b) of the 1992 Act was agreed between the billing authority and that major precepting authority under paragraph 6(3)(b) of Schedule 1A to the 1992 Act,
the billing authority shall, in discharging its liability to pay the amount of the variation to that major precepting authority, treat that amount for the purposes of regulation 3(6) as if it were that major precepting authority’s share of a surplus in the collection fund for that year, calculated in accordance with regulation 11.
Annotations
Textual amendments
- F1
Reg. 10A inserted (20.12.2013) by The Local Authorities (Funds) (England) (Amendment) Regulations 2013 (S.I. 2013/2974), regs. 1, 2(3)