# Local Government Finance Act 1988, Paragraph 2

Extent: E+W

(1) For each chargeable financial year the following shall be credited (as items of account) to the account kept for the year—
(a) sums received by the Welsh Ministers in the year under section 54 above,
(b) sums received by them in the year under section 59 above, and
(c) sums received by them in the year under paragraph 5 below or regulations made under sub-paragraph (15) of that paragraph.
(2) For each chargeable financial year the following shall be debited (as items of account) to the account kept for the year—
(a) payments made by the Welsh Ministers in the year under paragraph 5(10) or (14) below, under regulations made for the purpose mentioned in paragraph 4(7) below or under regulations made under paragraph 5(15) or 6(5) below, and
(b) payments made by them in the year under paragraph 12 or 15 below (as the case may be).

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Source: https://www.legislation.gov.uk/ukpga/1988/41/schedule/8/paragraph/2 (the official version)
Page: https://openlegislation.uk/local-government-finance-act-1988/schedule-8/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.