Explanatory note

These Regulations apply only to Wales. They make provision for the discharge by a billing authority of its liabilities to pay amounts in respect of precepts from its council fund.

Regulation 3 makes provision for a billing authority to make certain payments in accordance with a schedule of instalments and otherwise, and for the circumstances in which certain liabilities of the authority are to be treated as discharged.

Regulations 4 and 5, together with the Schedule, make provision for a billing authority to determine a schedule of instalments in accordance with prescribed rules. Regulation 6 allows a schedule of instalments to be amended. Regulations 7 and 8 make provision as to the payment of interest where amounts payable in accordance with a schedule of instalments are not paid.

Regulation 9 provides that the Local Authorities (Funds) (Wales) Regulations 1992 cease to have effect in relation to any financial year beginning in or after 1996.