(1) This Order may be cited as the London Residuary Body (Winding Up) Order 1996 and shall come into force on 29th March 1996.
(2) In this Order—
“Bromley” means the council of the London Borough of Bromley;
“the Common Council” means the Common Council of the City of London;
“Kensington and Chelsea” means the council of the Royal Borough of Kensington and Chelsea;
“the local council” means the council of a London borough;
“the Residuary Body” means the London Residuary Body.
(3) For the purposes of any provision of this Order which requires the payment or recovery of sums in the appropriate proportions—
(a) the appropriate proportion in relation to any council in any financial year is the proportion which the council tax base of that council for that financial year bears to the council tax base of all the local councils and the Common Council; and
(b) the council tax base of a council for a financial year is the amount calculated by that council as its council tax base for the year in accordance with the rules for the time being effective (as regards that year) under regulations made under section 33(5) of the Local Government Finance Act 1992