Reduced payments as a result of a recalculation

9.  Where regulation 7 applies as regards an authority for a financial year, the amount of an instalment directed by the Secretary of State, under paragraph 5(5) of Schedule 8 to the Act, to be paid by the authority on or after the adjustment day shall be treated as being the amount calculated in accordance with the formula—

where—

• D is the amount the Secretary of State directed to be paid by the authority in the instalment;

• E is the amount recalculated (or last recalculated) as regards the authority under regulation 7(2); and

• F is the provisional amount having effect as regards the authority immediately before the adjustment day.