# The Local Authorities (Funds) (England) Regulations 1992, Paragraph 9

Extent: E+W

(1) In a case to which this paragraph applies, the schedule of instalments shall be determined so as to require that if the relevant local precepting authority has issued a precept before the start of the financial year in respect of which the precept was issued—
(a) at least 50 per cent. of the billing authority’s liability to that authority will be paid to that authority within 1 month of the start of the financial year in respect of which the precept was issued, and
(b) the remainder of the billing authority’s liability to that authority will be paid to that authority within 6 months of the start of that financial year.
(2) In any other case to which this paragraph applies, the schedule of instalments shall be determined so as to require that—
(a) at least 50 per cent. of the billing authority’s liability to the relevant local precepting authority will be paid to that authority within 1 month of the issue to the billing authority of a precept by the relevant local precepting authority, and
(b) the remainder of the billing authority’s liability to that authority will be paid to that authority within 6 months of the issue to the billing authority of that precept,
provided that the whole of the billing authority’s liability to the relevant local precepting authority under this sub-paragraph is paid to that authority by the end of the financial year in respect of which the precept was issued.

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Source: https://www.legislation.gov.uk/uksi/1992/2428/schedule/I/paragraph/9 (the official version)
Page: https://openlegislation.uk/local-authorities-funds-england-regulations-1992/schedule-I/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.