Public Libraries and Museums Act 1964

2 (1) There may be paid into the art fund from the county fund or, as the case may be, the general rate fund such sums as the local authority determine, but, except with the consent of the Minister of Housing and Local Government,—

(a) the aggregate of sums so paid in any financial year shall not exceed the product of a rate of one-fifth of a penny in the pound for the administrative area of the authority for that year;

(b) a sum shall not be so paid if the payment thereof would cause the balance of the art fund to exceed the product of a rate of one penny in the pound for that area for that year.

(2) The above references to the product of a rate for an area shall, where there is more than one rating area within the area, be construed as references to the aggregate product of a rate of the amount in question for all rating areas within the area.

(3) The product of a rate of any amount for a rating area shall for the purposes of this paragraph be taken to be the product of a rate of that amount for that area ascertained, in the case of an area other than a county borough, in accordance with rules made for the purposes of section 9(2) of the Rating and Valuation Act 1925, or, in the case of a county borough, in accordance with rules made by the Minister of Housing and Local Government for the purposes of Part I of the Local Government Act 1958.