Regulation 7 Expenditure limited by reference to a stated rate productI1

Northern Ireland

(1)

For the purpose of any transferred provision which limits the expenditure of a district council for any purpose in any year by reference to the product of a rate of a stated amount in the pound on the rateable value of the district of the council, the product of a rate of one penny in the pound for the district shall be taken to be the amount obtained by dividing the amount estimated by the council under section 53(2)(e) of the Local Government Act (Northern Ireland) 1972 to be required to be raised by means of—

(a)

a capital value rate; or

(b)

a NAV rate,

by the appropriate divisor.

(2)

In paragraph (1) the “appropriate divisor” means—

(a)

in the case of a capital value rate made by the council for that year, the total pence in the pound in respect of hereditaments or any part of any hereditaments in the capital value list; or

(b)

in the case of a NAV rate made by the council for that year, the total pence in the pound in respect of hereditaments or any part of any hereditaments in the NAV list.

Annotations

Commencement

I1: Reg. 7 in operation at 27.2.2007, see reg. 1(1)