Paragraph 5 Calculations by Designated Authorities

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

para.3(b)(i), Sch. amended by Local Government Changes For England (Property Transfer and Transitional Payments) 1995 reg.2(15)
Sch. para.l(l) (defn. of final Housing rev.enue Account) added by Local Government Changes for England (Property Transfer and Transitional Payments) 1996 reg.2(7)(a)(i)
Sch. para.1(2)(e) amended by Local Government Changes for England (Property Transfer and Transitional Payments) 1996 reg.2(7)(a)(ii)
Sch. para.1(5) added by Local Government Changes for England (Property Transfer and Transitional Payments) 1996 reg.2(7)(a) (iii)
Sch. para.6 amended by Local Government Changes for England (Property Transfer and Transitional Payments) 1996 reg.2(7)(b)
Sch. para.6A added by Local Government Changes for England (Property Transfer and Transitional Payments) 1996 reg.2(7)(c)
Sch. para.1(1) (defn. of relevant PCl) amended by Local Government Changes For England (Property Transfer and Transitional Payments) 1996 reg.2(4)(a)
Sch. para.1(2) rev.in pt. by Local Government Changes For England (Property Transfer and Transitional Payments) 1996 reg.2(4)(b)
Sch. para.4 amended by Local Government Changes For England (Property Transfer and Transitional Payments) 1996 reg.2(5)
Sch. para.6A (defn. of HC) defn.of ( sub- paras.(i)(a)(ii)(a) am by Local Government Changes For England (Property Transfer and Transitional Payments) 1996 reg.2(8)(a)
Sch. para.6A defn.of ( HC) sub-paras.(i)(b) (it)(b) am by Local Government Changes For England (Property Transfer and Transitional Payments) 1996 reg.2(8)(b)

The amount of K shall be determined in such manner as the designated authority and the participant authority may agree or, in default of such agreement, in accordance with the formula—

\frac{KA \times d}{D}

where—

KA is an amount equal to the total of the item in the final accounts which relates to relevant capital receipts; and
D and d have the same meaning as in paragraph 2 above.