# Local Government (Financial Provisions) (Scotland) Act 1963, Section 9: Meaning of product of a rate of one penny in the pound and standard penny rate product.

Extent: S

(1) References in this Part of this Act to the product of a rate of one new penny in the pound for any area for any year are references to an amount calculated for that area for that year in accordance with regulations made in that behalf by the Secretary of State under section III of the Local Government (Scotland) Act 1973.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) Except so far as otherwise provided in this Part of this Act references therein to the standard penny rate product for any year for any district or islands area are references to the product of the weighted population of the district or islands area and the national standard amount per head for that year.
(3A) The standard penny rate product for any year of an area which is a region shall be taken to be an amount equal to the sum of the standard penny rate products for that year of the districts comprised in that region.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) For the purposes of subsection (3) of this section the weighted population of an area and the national standard amount per head for any year shall be determined in such manner as may be prescribed by a rate support grant order made under section 3 of the Local Government (Scotland) Act 1966
(6) In the case of any area which is part of a district or islands area, references in this Part of this Act to the standard penny rate product of the area are, except so far as otherwise provided therein, references to so much of the standard penny rate product of the district or, as the case may be, islands area, as bears to the whole the same proportion as the rateable valuation of the area in question bears to the rateable valuation of the district or, as the case may be, islands area.
(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1963/12/section/9 (the official version)
Page: https://openlegislation.uk/local-government-financial-provisions-scotland-act-1963/section-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.