The Local Authorities (Funds) (Wales) Regulations 1992

9.—(1) At least one third of the amount of a billing authority’s liability to a relevant local precepting authority for a financial year shall become payable to that local precepting authority on or before–

(a) the last working day of April in that financial year, or

(b) the last working day of the month following the month in which a precept for that financial year was issued by that local precepting authority,

whichever is the later.

(2) At least two thirds of that amount shall become payable to that local precepting authority on or before–

(a) the last working day of August in that financial year, or

(b) the last working day of the fifth month following the month in which a precept for that financial year was issued by that local precepting authority,

whichever is the later.

(3) The remainder of that amount shall become payable to that local precepting authority on or before–

(a) the last working day of December in that financial year, or

(b) the last working day of the ninth month following the month in which a precept for that financial year was issued by that local precepting authority,

whichever is the later.

(4) Sub-paragraphs (1) to (3) shall not apply to the discharge of a billing authority’s liabilities to its relevant local precepting authorities for a financial year in relation to which it determines a schedule of instalments in accordance with paragraph 10.