OpenLegislation

Regulation 15 PCL of designated authority

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to paragraph (2), on the reorganisation date there shall be added to the PCL of a designated authority in relation to an abolished authority an amount equal to the PCL of the abolished authority on the last day of the preliminary period.

(2)

Where any amount is added to the PCL of a participant authority by virtue of regulation 16(1) or (2) below, an equivalent amount shall be deducted on the same day from the PCL of the designated authority.