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Paragraph 17 I1

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where an advance is made under paragraph 15, the previous fund authority's liability under paragraphs 11 and 14 shall be reduced by an amount equal to:

LM×N

, where—

  • L is the value of the advance,

  • M is the value of the share of the fund to which the the new fund authority would have been entited under paragraph 11 if the apportionment date had been the date on which the advance was made, and

  • N is the value of the share of the fund to which the new fund authority would have been entitled under paragraph 11 if the advance had not been made.

Annotations

Commencement

I1

Sch. 19 para. 17 in force at 1.3.1986, see reg. A1