The Local Government Changes for England (Collection Fund Surpluses and Deficits) (Amendment) Regulations 1996

• Citation: S.I. 1996/2177
• Sections: 3

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Local Government Changes for England (Collection Fund Surpluses and Deficits) (Amendment) Regulations 1996 and shall come into force on 17th September 1996.

(2) In these Regulations “the principal Regulations ” means the Local Government Changes for England (Collection Fund Surpluses and Deficits) Regulations 1995 .

Section 2 Funds Regulations

For paragraph (2) of regulation 3 of the principal Regulations there shall be substituted the following—

(2) For the purpose of the estimate under regulation 10 of the Funds Regulations—

(a) where the estimate is for the initial year, no account shall be taken by a billing authority of an estimated amount or audit adjustment calculated under regulations 4, 5, 6 or 7 in relation to that authority and to a surplus or deficit on that authority’s collection fund, and

(b) where the estimate is for the initial or any subsequent year, no account shall be taken of any payments to or by a billing authority or any transfers between an authority’s collection fund and general fund required to be made under these Regulations.

Section 3 Audit adjustment

For paragraph 5(1)(b) of the principal Regulations there shall be substituted the following—

(b) “final surplus or deficit” means the surplus or deficit in the collection fund of the relevant billing authority for the immediately preceding year calculated by applying the formula in paragraph 2 of Part I of Schedule 2 to the Funds Regulations to the figures shown in the final audited accounts of that authority for that year.