Anticipation of precepts
2.—(1) A billing authority making calculations (originally or by way of substitute) for a financial year ( “the year”) may anticipate a precept to be issued in accordance with section 41 of the Act to it for the year by a local precepting authority in any case where—
(a)such a precept has not been issued by the local precepting authority to the billing authority at the time the calculations are made; and
(b)the local precepting authority has issued a precept for one or more of the three immediately preceding financial years.
(2) Subject to paragraph (3) below, where, pursuant to paragraph (1) above, the billing authority anticipates a precept to be issued by a local precepting authority for the year, the amount of the precept so anticipated shall be equal to the billing authority’s estimate, at the time the calculations (or last calculations) are made, of the amount of the precept which it considers likely will be issued to it for the year by the local precepting authority, provided that the amount anticipated shall not exceed the highest amount of any precept issued by the local precepting authority for any of the three immediately preceding financial years.
(3) Where a precept has previously been anticipated by the billing authority for the purposes of the calculations for the year, the amount of the precept which may be anticipated by the authority for the purposes of any substitute calculations for the year shall be equal to the amount previously anticipated.