Local Government Finance Act 1988, Paragraph 2 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
2(1)For each chargeable financial year the following shall be credited (as items of account) to the account kept for the year—E+W
(a)sums received by the [F1Welsh Ministers] in the year under section 54 above,
(b)sums received by [F2them] in the year under [F3section 59] above, and
(c)sums received by [F4them] in the year under paragraph 5 below [F5or regulations made under sub-paragraph (15) of that paragraph].
(2)For each chargeable financial year the following shall be debited (as items of account) to the account kept for the year—
(a)payments made by the [F6Welsh Ministers] in the year [F7under paragraph 5(10) or (14) below[F8, under regulations made for the purpose mentioned in paragraph 4(7) below] or under regulations made under paragraph 5(15) or 6(5) below], and
(b)payments made by [F9them] in the year under [F10paragraph 12 or 15 below] (as the case may be).
Textual Amendments
F1Words in Sch. 8 para. 2(1)(a) substituted (with effect in accordance with s. 5(3) of the amending Act) by Local Government Finance Act 2012 (c. 17), Sch. 3 para. 4(2)(a)
F2Word in Sch. 8 para. 2(1)(b) substituted (with effect in accordance with s. 5(3) of the amending Act) by Local Government Finance Act 2012 (c. 17), Sch. 3 para. 4(2)(b)
F3Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 81:1), s. 139, Sch. 5 para. 41
F4Word in Sch. 8 para. 2(1)(c) substituted (with effect in accordance with s. 5(3) of the amending Act) by Local Government Finance Act 2012 (c. 17), Sch. 3 para. 4(2)(b)
F5Words in Sch. 8 para. 2(1)(c) added (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(1) (with s. 118(1)(2)(4))
F6Words in Sch. 8 para. 2(2)(a) substituted (with effect in accordance with s. 5(3) of the amending Act) by Local Government Finance Act 2012 (c. 17), Sch. 3 para. 4(3)(a)
F7Words in Sch. 8 para. 2(2)(a) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(a) (with s. 118(1)(2)(4))
F8Words in Sch. 8 para. 2(2)(a) inserted (18.11.2003 for E., 27.11.2003 for W.) by Local Government Act 2003 (c. 26), s. 128(6), Sch. 7 para. 26(2); S.I. 2003/2938, art. 3(a) (with art. 8 Sch.); S.I. 2003/3034, art. 2, Sch. 1 Pt. I
F9Word in Sch. 8 para. 2(2)(b) substituted (with effect in accordance with s. 5(3) of the amending Act) by Local Government Finance Act 2012 (c. 17), Sch. 3 para. 4(3)(b)
F10Words in Sch. 8 para. 2(2)(b) substituted (6.3.1992) by 1992 c. 14, s. 117(1), Sch. 13 para. 86(2)(b) (with s. 118(1)(2)(4))
Modifications etc. (not altering text)
C1Sch. 8 para. 2 modified by S.I. 1990/493, reg. 8(2)
Sch. 8 para. 2 modified (1.4.1993) by S.I. 1992/2996, reg. 4(2)
Sch. 8 para. 2 amended (1.4.1993) by S.I. 1993/613, reg. 5(2)
C2Sch. 8 para. 2 amended by S.I. 1990/609, reg. 5(2)
C3Sch. 8 para. 2(1) modified (16.7.1992) by 1992 c. 46, s. 5(1) (with s. 8(1)); S.I. 1992/1642, art.2
Sch. 8 para. 2(1) modified (24.2.1994 with effect as mentioned in s. 3(1) of the amending Act) by 1994 c. 3, s. 3
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