Schedule – Calculation of the sub-liability6

In the Schedule —

a

in paragraph 3(2), for—

(buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.

substitute—

(available buy back allowance for the previous quarter + buy back allowance for the relevant quarter) – available buy back allowance deducted in the previous quarter when calculating the sub-liability.

b

in paragraph 4—

i

for the meaning of “B” substitute—

  • “B means the total of the attributable debt associated with the dwellings disposed of from 1st April 2012 to the last day of the relevant quarter;”;

ii

for the meaning of “C” substitute—

  • “C means the total of the assumed debt for each quarter from quarter 1 to the relevant quarter;”; and

iii

for the meaning of “F*”, substitute—

  • “F** means the total of the value of F from quarter 1 to the previous quarter;”;

c

for paragraph 6, substitute—

6

F means—

  • B−C−F**math

  • except where the amount is less than zero, in which case F means zero.

d

in the Table, in Column B for North West Leicestershire—

i

for the amount “81,496.61” substitute “30 838.58” (the local authority share cap for each quarter of 2012-2013);

ii

for the amount “93 362.24” substitute “50 904.60” (the local authority share cap for each quarter of 2013-2014); and

iii

for the amount “106 942.31” substitute “57 086.06” (the local authority share cap for each quarter of 2014-2015).