Local Government Finance Act 1988 (c. 41)

SCHEDULES

[F1 SCHEDULE 7B E+W Local retention of non-domestic rates

Textual Amendments

F1 Sch. 7B inserted (with effect in accordance with s. 1(6) of the amending Act) by Local Government Finance Act 2012 (c. 17), s. 1(4), Sch. 1

Part 6 E+W Levy accounts

Credits and debits E+W

20 (1) For each year the following are to be credited (as items of account) to the levy account kept for the year—

(a) amounts received by the Secretary of State in the year under paragraph 24 (levy payments), and

(b) amounts received by the Secretary of State in the year under regulations under paragraph 28 (payments on account).

(2) If a local government finance report for a year has been approved by resolution of the House of Commons, and that report provides for an amount to be credited to the levy account kept for the year, that amount may be credited (as an item of account) to that account.

(3) For each year the following are to be debited (as items of account) to the levy account kept for the year—

(a) payments made by the Secretary of State in the year under paragraph 27 (safety net payments),

(b) payments made by the Secretary of State in the year under regulations under paragraph 28, and

(c) payments made by the Secretary of State in the year under paragraph 30 (distribution of remaining balance).]