1(1)In accordance with this Schedule the Secretary of State shall keep for each chargeable financial year an account (to be called a non-domestic rating account).E+W
(2)The Secretary of State—
(a)shall keep each account in such form as the Treasury may direct, and
(b)shall at such time as the Treasury may direct send copies of each account to the Comptroller and Auditor General.
(3)The Comptroller and Auditor General shall examine, certify and report on any account of which copies are sent to him under sub-paragraph (2) above and shall lay copies of the account and of his report before each House of Parliament.
[F1(4)The Auditor General for Wales shall examine, certify and report on any account of which copies are sent to him under sub-paragraph (2) and shall lay copies of the account and of his report before the Assembly.]
Textual Amendments
2(1)For each chargeable financial year the following shall be credited (as items of account) to the account kept for the year—E+W
(a)sums received by the Secretary of State in the year under section 54 above,
(b)sums received by him in the year under [F2section 59] above, and
(c)sums received by him in the year under paragraph 5 below [F3or regulations made under sub-paragraph (15) of that paragraph].
(2)For each chargeable financial year the following shall be debited (as items of account) to the account kept for the year—
(a)payments made by the Secretary of State in the year [F4under paragraph 5(10) or (14) below[F5, under regulations made for the purpose mentioned in paragraph 4(7) below] or under regulations made under paragraph 5(15) or 6(5) below], and
(b)payments made by him in the year under [F6paragraph 12 or 15 below] (as the case may be).
Textual Amendments
F2Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 81:1), s. 139, Sch. 5 para. 41
F3Words in Sch. 8 para. 2(1)(c) added (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(1) (with s. 118(1)(2)(4))
F4Words in Sch. 8 para. 2(2)(a) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(a) (with s. 118(1)(2)(4))
F5Words in Sch. 8 para. 2(2)(a) inserted (18.11.2003 for E., 27.11.2003 for W.) by Local Government Act 2003 (c. 26), s. 128(6), Sch. 7 para. 26(2); S.I. 2003/2938, art. 3(a) (with art. 8 Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I
F6Words in Sch. 8 para. 2(2)(b) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(b) (with s. 118(1)(2)(4))
Modifications etc. (not altering text)
C1Sch. 8 para. 2 modified by S.I. 1990/493, reg. 8(2)
Sch. 8 para. 2 modified (1.4.1993) by S.I. 1992/2996, reg. 4(2)
Sch. 8 para. 2 amended (1.4.1993) by S.I. 1993/613, reg. 5(2)
C2Sch. 8 para. 2 amended by S.I. 1990/609, reg. 5(2)
C3Sch. 8 para. 2(1) modified (16.7.1992) by 1992 c. 46, s. 5(1) (with s. 8(1)); S.I. 1992/1642, art.2
Sch. 8 para. 2(1) modified (24.2.1994 with effect as mentioned in s. 3(1) of the amending Act) by 1994 c. 3, s. 3
3(1)As soon as is reasonably practicable after the end of each chargeable financial year the Secretary of State shall calculate the following—E+W
(a)the aggregate of the items of account credited to the account kept for the year, and
(b)the aggregate of the items of account debited to the account kept for the year.
(2)If the aggregate mentioned in sub-paragraph (1)(a) above exceeds that mentioned in sub-paragraph (1)(b) above, a sum equal to the excess shall be—
(a)debited (as an item of account) to the account kept for the year, and
(b)credited (as an item of account) to the account kept for the next financial year.
(3)If the aggregate mentioned in sub-paragraph (1)(b) above exceeds that mentioned in sub-paragraph (1)(a) above, a sum equal to the excess shall be—
(a)credited (as an item of account) to the account kept for the year, and
(b)debited (as an item of account) to the account kept for the next financial year.