# Local Government Finance Act 1988, Paragraph 9

Extent: E+W

(1) A special authority’s non-domestic rating multiplier for a chargeable financial year shall be such as is set for the year by the authority in accordance with this Part of this Schedule.
(2) The multiplier must be expressed as a figure in which a part of a whole (if any) is expressed to three decimal places only.
(3) The multiplier must be not greater than the required maximum for the year.
(4) The required maximum for the year shall be calculated in accordance with the formula—
A+B(C-D)E x Fwhere—
A is the non-domestic rating multiplier for the year ... determined in accordance with Part A1 of this Schedule,
B is a percentage prescribed for the year by order made by the Secretary of State,
C is the amount calculated (or last calculated) for the year by the authority under section 31A(4) of the Local Government Finance Act 1992,
D is an amount determined by the Secretary of State for the year and notified by him to the authority before 1 March in the preceding financial year,
E is the total of the rateable values shown in the authority’s local non-domestic rating list on 31 December in the preceding financial year, and
F is a factor determined by the Secretary of State for the year and notified by him to the authority before 1 March in the preceding financial year.
(5) An order under sub-paragraph (4) above in its application to a particular financial year (including an order amending or revoking another) shall not be effective unless it comes into force before 1 March in the preceding financial year.

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Source: https://www.legislation.gov.uk/ukpga/1988/41/schedule/7/paragraph/9 (the official version)
Page: https://openlegislation.uk/local-government-finance-act-1988/schedule-7/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.