The Local Authorities (Funds) (England) Regulations 1992

Explanatory Note

(This note is not part of the Regulations)

These Regulations make provision for the discharge by a billing authority of its liabilities to pay amounts in respect of precepts from its collection and general funds and to make transfers between those funds to meet its estimated expenses. They also make provision for the discharge by a billing authority and its major precepting authorities of their liabilities to meet any estimated surplus or deficit in a billing authority’s collection fund.

Regulation 3 makes provision for a billing authority to make certain payments and transfers from its collection and general funds in accordance with a schedule of instalments and otherwise, and for the circumstances in which certain liabilities of the authority are to be treated as discharged.

Regulations 4 and 5, together with Schedule 1, provide that a billing authority shall determine a schedule of instalments in accordance with prescribed rules. Regulation 6 allows a schedule of instalments to be amended. Regulations 7 and 8 make provision as to the payment of interest where amounts payable in accordance with a schedule of instalments are not paid.

Regulation 9 makes provision as to certain transfers where a billing authority has recalculated its budget requirement for the year. Regulations 10 and 11, together with Schedule 2, provide for the estimation and apportionment of, and liability for, a surplus or deficit in a billing authority’s collection fund. Copies of the Collection Fund (Community Charges) (England) Directions 1992 made under section 98 of the Local Government Finance Act 1988 on 12th October 1992 and referred to in paragraph 5 of Schedule 2 can be obtained free of charge from the Department of the Environment, Room N4/19, 2 Marsham Street, London SW1P 3EB.

Regulation 12 provides for a major precepting authority to make payments to a billing authority where that precepting authority is liable for part of a collection fund deficit.

Regulation 13, together with Schedule 3, make provision as to the holding, investment and use of sums paid into a billing authority’s collection fund.

Regulation 14 provides, subject to a transitional provision, that the Collection Fund (England) Regulations 1989 cease to have effect in relation to any financial year beginning in or after 1993.