24.—(1) A local education authority may at any time during funding period 1, 2 or 3 redetermine a school’s budget share for a previous funding period, or the current funding period, in order to correct an error in a determination or redetermination under these, or previous Regulations, whether arising from a mistake as to the number of registered pupils at the school or otherwise, provided the error is of a kind not provided for by any specific error correction provision in the authority’s formula.
(2) A local education authority may redetermine a school’s budget share for funding period 1, 2 or 3 to take into account any changes in that school’s non-domestic rates liability in relation to a current funding period or previous funding period.
(3) Insofar as any redetermination under paragraph (1) would require the amount that would otherwise have been the budget share of a school to be reduced, it may not be reduced to a figure which is lower than that which could have been allocated to that school under the regulations in force during the funding period in which the error occurred.