Regulation 10 Estimation of surpluses and deficits

A billing authority shall, in accordance with the rules prescribed in Part I of Schedule 2 to these Regulations, estimate as regards each financial year beginning in or after 1993 whether there is a surplus or deficit in its collection fund for the preceding financial year and if so, the amount of that surplus or deficit.

A billing authority shall, as regards each financial year beginning in or after 1993, estimate the surplus or deficit under paragraph (1) on 15th January in the preceding financial year.

Where 15th January in a financial year is a Saturday, Sunday or bank holiday the estimate shall be made on the first working day thereafter.