xmlns:atom="http://www.w3.org/2005/Atom"
6.—(1) During a financial year, a billing authority may recalculate—
(a)the amount calculated under paragraph 2(2);
(b)the amount calculated under paragraph 5(3); or, as the case may be,
(c)the amount last calculated under sub-paragraph (3) of this paragraph.
(2) Where the conditions in sub-paragraph (6) are satisfied, the billing authority may submit to the relevant levying authority a return (a “revised provisional return”) setting out—
(a)the amount it has transferred from its collection fund to the relevant levying authority’s revenue account during the year;
(b)the total amount it expects to transfer from its collection fund to the relevant levying authority’s revenue account during the financial year; and
(c)the amount of the difference.
(3) For the purposes of sub-paragraph (2), the total amount the billing authority expects to transfer from its collection fund to the levying authority’s revenue account during the financial year shall be calculated in accordance with the formula—
where—
F is the amount arrived at by applying the formula in paragraph 7(2) in respect of each day in the financial year before the day on which the recalculation under sub-paragraph (1) of this paragraph is made; and
G is the amount arrived at by applying the formula in paragraph 2(2) in respect of the day on which the recalculation under sub-paragraph (1) of this paragraph is made and each subsequent day in the financial year.
(4) The revised provisional return shall include an explanation of how the billing authority arrived at “F” and “G” referred to in sub-paragraph (3).
(5) The conditions are—
(a)the recalculation must result in an amount that is less than the amount which the billing authority last calculated as the amount it expected to transfer from its collection fund to the relevant levying authority’s revenue account during the financial year; and
(b)the billing authority must not have submitted a revised provisional return in any period of three months commencing on 1st April, 1st July, 1st October or 1st January.
(6) If a billing authority submits a revised provisional return, paragraph 4 shall apply to that return as if—
(a)the reference in sub-paragraph (1) of that paragraph to “the amount shown in its provisional return” were a reference to the amount referred to in sub-paragraph (2)(c) of this paragraph; and
(b)the reference to “the number of months in which BRS is to be collected in the financial year” were a reference to the number of months in which the BRS is to be collected in the relevant year after the revised provisional return is submitted.
(7) If the total amount calculated under sub-paragraph (3) is equal to the aggregate of the instalments the billing authority has paid to the relevant levying authority in the relevant year, no further instalments shall be payable.
(8) If the total amount calculated under sub-paragraph (3) is less than the aggregate of the instalments the billing authority has paid to the relevant levying authority in the relevant year no further instalments shall be payable and the relevant levying authority shall either—
(a)refund to the billing authority from its revenue account the amount of the difference; or
(b)authorise the billing authority to reduce an instalment or instalments to be transferred under paragraph 4 after the date of the calculation made under this paragraph by the amount of the difference.