[F120(1)If the period beginning with the day on which the Council is established and ending with the next 31st March is six months or more, the first financial year of the Council is that period.U.K.
(2)If the period mentioned in sub-paragraph (1) above is less than six months, the first financial year of the Council is the period beginning with the day on which the body is established and ending with 31st March in the following year.]
Textual Amendments
F1Sch. 3A inserted (1.10.2005) by Water Act 2003 (c. 37), ss. 35(2), 105(3), Sch. 2; S.I. 2005/2714, art. 2(a)(i) (with Sch. para. 8)