Except as provided for in this regulation, in determining (including redetermining) budget shares for primary and secondary schools maintained by it, a local authority must ensure that an amount equal to the guaranteed funding level is included, calculated in accordance with Schedule 4 (minimum funding guarantee).

For the purpose of determining budget shares, paragraph (1) does not apply to any school opening during the funding period, except in the circumstances set out in paragraph 3 of Schedule 4.

Where authorised to do so by the Secretary of State under regulation 31 (alternative arrangements), a local authority may alter the operation of this regulation and Schedule 4 in determining (including redetermining) budget shares.