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Section 55.
1(1)In each year an amount in the pound shall be specified in the Rate Grant Support for the purposes of section 48 of the M1General Rate Act 1967 (reduction of rates on dwellings).E+W
(2)Different amounts in the pound may be specified under sub-paragraph (1) above for different rating areas.
(3)In specifying the amount or amounts in the pound under this paragraph for any year the Secretary of State shall seek to secure that the total amount of the reduction under section 48 of the General Rate Act 1967 for all rating areas will correspond to the aggregate amount of the domestic rate relief grant.
(4)In this paragraph “rating area" has the same meaning as in the General Rate Act 1967.
2(1)the amount of the domestic rate relief grant payable to a local authority for any year shall be calculated by multiplying the aggregate amount of the domestic rate relief grant byE+W
where—
a is the domestic rateable value of the area of the local authority for the year multiplied by the amount of the reduction specified in relation to that area in the Rate Support Grant Report, and
A is the aggregate of the amounts calculated as for a in respect of each local authority entitled tore ceive domestic rate relief in the year.
(2)For the purposes of this paragraph the domestic rateable value of the area of a local authority shall be the amount, divided by two, of the aggregate of the rateable values of dwelling houses in the area shown in the valuation list on 1st April and 31st March in the year as certified by the vaulation officer.
(3)No payment in respect of the domestic rate relief grant shall be made to the Sub-Treasurer of the Inner Temple or the Under Treasurer of the Middle Temple if no rate in the nature of a general rate is levied in the Temple in question during the year.
3(1)Section 48 of the General Rate Act 1967 (which provides for the reduction of rates on dwellings by reference to the domestic rate relief grant) and paragraph 1 above shall, in their application to the City of London, have effect subject to the provisions of this paragraph.E+W
(2)Reductions of rates under the said provisions shall be apportioned between the poor rate and the general rate in the relevant proportions (taken to the nearest whole penny).
(3)Payments in respect of the domestic rate relief grant shall be treated as being, in the relevant proportions, the proceeds of the poor rate and the general rate.
(4)In this paragraph “the relevant proportions” means the proportions which, for the year, the number of pence in the pound of the poor rate and the general rate bear respectively to the aggregate of the number of pence in the pound of both the said rates.