PART 4 E+WCalculation of surplus and deficit

Payments and transfers with respect to surplus and deficitE+W

14.—(1) A billing authority must pay to the Secretary of State the Secretary of State's share and to any relevant precepting authority that authority's share of a surplus during the course of the relevant year in accordance with the schedule of instalments.

(2) The Secretary of State and a relevant precepting authority must pay their respective shares of a deficit to the billing authority during the course of the relevant year in accordance with the schedule of instalments.

(3) A transfer under section 97(3) or 97(4) of the 1988 Act of a billing authority's share of a surplus or deficit in respect of non-domestic rates must be made during the course of the relevant year in accordance with the schedule of instalments.