The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No. 4) Regulations 2012

Schedule – Calculation of the sub-liability

6.  In the Schedule —

(a) in paragraph 3(2), for—

“(buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.”;

substitute—

“(available buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.”;

(b) in paragraph 4—

(i) for the meaning of “B” substitute—

• “B means the total of the attributable debt associated with the dwellings disposed of from 1st April 2012 to the last day of the relevant quarter;”;

(ii) for the meaning of “C” substitute—

• “C means the total of the assumed debt for each quarter from quarter 1 to the relevant quarter;”; and

(iii) for the meaning of “F*”, substitute—

• “F** means the total of the value of F from quarter 1 to the previous quarter;”;

(c) for paragraph 6, substitute—

“6.   F means—

• 

• except where the amount is less than zero, in which case F means zero.”; and

(d) in the Table, in Column B for North West Leicestershire—

(i) for the amount “81,496.61” substitute “30 838.58” (the local authority share cap for each quarter of 2012-2013);

(ii) for the amount “93 362.24” substitute “50 904.60” (the local authority share cap for each quarter of 2013-2014); and

(iii) for the amount “106 942.31” substitute “57 086.06” (the local authority share cap for each quarter of 2014-2015).