# The Local Authorities (Funds) (Wales) Regulations 1992, Paragraph 3


Where the billing authority determines that more than 12 instalments are to be paid or transferred in discharge of each liability referred to in paragraph 1(2), the authority shall determine the schedule of instalments so as to require that–
(a) the authority shall pay and transfer the amount of each first instalment in the financial year within 4 weeks of the start of that financial year and the amount of each last instalment within 4 weeks prior to the end of that financial year, and
(b) there shall be an equal number of working days between each instalment in that financial year.

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Source: https://www.legislation.gov.uk/uksi/1992/2929/schedule/1/paragraph/3 (the official version)
Page: https://openlegislation.uk/local-authorities-funds-wales-regulations-1992/schedule-1/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.