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The Business Improvement Districts (Property Owners) (England) Regulations 2014

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15.  In regulation 16 (BID revenue account)—

(a)in paragraph (2) for “the relevant billing authority” substitute “the lead authority”;

(b)after paragraph (2) insert—

“(2A) A relevant billing authority which is not a lead authority shall transfer the amounts it receives in respect of BRS-BID levy in respect of its area to the lead authority’s BID revenue account at such time and in such manner as is agreed between the relevant billing authorities.”

(c)in paragraph (4) for “the relevant billing authority” substitute “the lead authority”;

(d)for paragraph (5) substitute—

“(5) Where paragraph (3) does not apply, the lead authority shall apportion the credit balance between each of the relevant billing authorities—

(a)in such proportions as shall be agreed by the authorities; or

(b)where the authorities are unable to agree, in proportion to the rateable value of the hereditaments situated in each authority’s area and in respect of which a person was liable to pay the BRS-BID levy at the point that the BRS-BID arrangements came to an end.”; and

(e)after paragraph (5) insert—

“(6) The lead authority shall transfer the amount determined in accordance with paragraph (5) to each of the relevant billing authorities at such time and in such manner as is agreed between the lead authority and each of the relevant billing authorities.”

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