SCHEDULERULES FOR DETERMINATION OF SCHEDULES OF INSTALMENTS
PART IRELEVANT MAJOR PRECEPTING AUTHORITIES
5.—(1) This paragraph applies where the relevant major precepting authority has issued a substitute precept under section 42(1) of the 1992 Act, for the financial year to which the schedule of instalments relates.
(2) Subject to sub-paragraphs (4) and (6), the schedule of instalments shall be determined so as to require each instalment paid to the relevant major precepting authority after it has issued a substitute precept to be the amount calculated in accordance with sub-paragraph (3).
(3) The amount calculated in accordance with this sub-paragraph shall be calculated by applying the formula—
where—
A is the amount which would have been paid on the date on which the instalment is paid had the substitute precept not been issued,
B is the amount payable in respect of the substitute precept, and
C is the amount payable in respect of the previous precept.
(4) If the amount payable in respect of the substitute precept is greater than the amount payable in respect of the previous precept, the amount paid to the relevant major precepting authority shall in the first instalment paid after the issue of that substitute precept be required to include the additional amount described in sub-paragraph (5).
(5) For the purposes of sub-paragraph (4), the additional amount is the difference between—
(a)the total of—
(i)the amount paid for the financial year to the relevant major precepting authority before the issue of the substitute precept, and
(ii)the amount of the instalment calculated in accordance with sub-paragraph (3), and
(b)the amount which would have been paid for the financial year to the relevant major precepting authority on and before the day of the payment to that authority of the first instalment after the issue of the substitute precept, had the amount payable in respect of the previous precept been the same as the amount payable in respect of the substitute precept.
(6) If the amount payable in respect of the substitute precept is less than the amount payable in respect of the previous precept, the amount paid to the relevant major precepting authority in an instalment paid after the issue of the substitute precept by that authority shall not be required to be an amount greater than the amount described in sub-paragraph (7).
(7) For the purposes of sub-paragraph (6), the amount is that necessary for the amount paid to the relevant major precepting authority for the financial year on and before the day of the instalment to equal the amount which would have been so paid had the amount payable in respect of the previous precept been the same as the amount payable in respect of the substitute precept.
(8) Where the relevant major precepting authority has issued more than one substitute precept for the financial year to which the schedule of instalments relates—
(a)references in this paragraph to a substitute precept shall be construed as references to the latest substitute precept, and
(b)references to the previous precept shall be construed as references to the last precept to be issued before the latest substitute precept.
(9) In this paragraph any reference (however framed) to an amount payable in respect of a precept is a reference to the amount stated in a precept issued to the billing authority, under section 40(2)(b) of the 1992 Act.