Regulation 11 Usable receipts of designated authority
Where in relation to an abolished authority there is only one successor authority, section 60 shall have effect as if on the reorganisation date there were added to the usable receipts of the successor authority an amount equal to the usable receipts of the abolished authority on the last day of the preliminary period.
Where in relation to an abolished authority there are two or more successor authorities, section 60 shall have effect as if—
on the reorganisation date there were added to the usable receipts of the designated authority an amount equal to the usable receipts of the abolished authority on the last day of the preliminary period;
it were provided that the designated authority shall not, before the relevant date, apply the amount added under sub-paragraph (a) in either of the ways mentioned in section 60(2), except to meet expenditure for capital purposes incurred by the abolished authority; and
the usable receipts of the designated authority were reduced on the relevant date by an amount equal to the aggregate of the relevant amounts for the participant authorities.
Section 60 shall have effect in relation to a relinquishing authority as if the relinquishing authority’s usable receipts were reduced on the relevant date by an amount equal to the aggregate of the relevant amounts for the participant authorities.