Article 3 Credits and debits to the non-domestic rating transition account

(1)

For the financial year commencing on 1st April 2013 there shall be credited (as items of account) to the account sums received by the Secretary of State in the year in respect of earlier years under paragraph 5 of Schedule 8 to the LGFA 1988 or regulations made under sub-paragraph (15) of that paragraph.

(2)

For the financial year commencing on 1st April 2013 there shall be debited (as items of account) from the account payments made by the Secretary of State in the year in respect of earlier years—

(a)

under regulations made for the purpose mentioned in paragraph 4(7) of Schedule 8 to the LGFA 1988,

(b)

under paragraph 5(10), 5(14), 12 or 15 of Schedule 8 to the LGFA 1988, and

(c)

under regulations made under paragraph 5(15) or paragraph 6(5) of Schedule 8 to the LGFA 1988.