Regulation 15 Caretaker and nominated councils: recovery of expenditure and distribution of surplusesI1

England and Wales

(1)

A council which, under any provision of a relevant instrument, is a caretaker council or a nominated council, may recover from the other successor councils concerned such proportion of any eligible expenditure as may be agreed between them or, failing such agreement, as may be determined by a person appointed by the Secretary of State.

(2)

Where the total of any sums received by the caretaker council or the nominated council (as the case may be) in any financial year in carrying out its functions as such exceeds the amount of any eligible expenditure in respect of that year, the caretaker council or the nominated council shall, as soon as is reasonably practicable after the end of that year, pay to each other successor council such proportion of the excess as may be agreed between them or, failing such agreement, as may be determined by a person appointed by the Secretary of State.

(3)

In this regulation “eligible expenditure”, in relation to a caretaker council or a nominated council (as the case may be) and a year, means the difference between—

(a)

an amount equal to the expenditure properly incurred by the caretaker council or the nominated council in that year in carrying out any of its functions as such for the meeting of which provision is not otherwise made in a relevant instrument; and

(b)

an amount equal to the total of any interest or other sums—

(i)

where the council is a nominated council, received by that council in connection with the management of financial reserves transferred to it under regulation 10;

(ii)

where the council is a caretaker council, received by that council with respect to investments vested in it by virtue of regulation 13(4).

Annotations

Commencement

I1: Reg. 15 in force at 8.9.2008, see reg. 1(1)