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.