Modifications etc. (not altering text)
C1Sch. 3 applied (temp.) (with modifications) (4.5.1995) by S.I. 1995/1041, art. 2, Sch. para. 5
Sch. 3 applied (with modifications) (23.11.1995) by S.I. 1995/2803, art. 19(2), Sch. 7 Pt. II para. 5
2(1)Where a local authority have a 1989-90 overspend, their basic credit approval for the financial year 1990-91 shall be taken to be reduced or, as the case may be, extinguished by deducting from the approval an amount equal to the overspend.E+W
(2)Any reduction or extinguishment of an authority’s basic credit approval under this paragraph shall be regarded as taking place immediately after the approval is received by the authority.