The Local Authorities (Funds) (Wales) Regulations 1992

8.—(1) The amount of a billing authority’s liability to each relevant local precepting authority for a financial year shall be discharged by payment from the authority’s general fund to be made in not more than 3 instalments, of the same number for each such liability, as determined by the authority, and payable on the same dates for each such liability, as determined by the authority in accordance with the rules prescribed in paragraph 9 or 10.

(2) The schedule of instalments shall be determined so as to specify–

(a) the number of the instalments,

(b) the amount which each instalment will be as a proportion of the amount of each such liability, and

(c) the date in that financial year on which each instalment shall become payable.

(3) The schedule of instalments shall be determined so as to provide that if–

(a) a relevant local precepting authority issues a substitute precept for a financial year which is greater than the amount of the previous precept to be issued or the last one to be issued, and

(b) that substitute precept was issued on or after the last working day of a month which is referred to in paragraph 9 or 10 and which applies to that relevant local precepting authority in that financial year, the difference between the liability in respect of that substitute precept and the liability in respect of the previous precept to be issued or the last one to be issued shall not be taken into account for the purpose of determining the amount of the liability to that relevant local precepting authority to be paid in that month.