Citation, commencement and extent

1.-(1) These Regulations may be cited as the Local Authorities (Funds) (England) (Amendment) Regulations 1995 and shall come into force on 4th December 1995.

(2) These Regulations extend to England only.

Rules for determination of schedules of instalments

2.-(1) The Local Authorities (Funds) (England) Regulations 1992(2) shall be amended as provided in this regulation.

(2) For paragraph 2(1) of Part I of Schedule 1 there shall be substituted-

"(1) Subject to sub-paragraph (4), the schedule of instalments shall be determined so as to require-

(a)the first instalment to be paid or transferred to principal authorities within the following periods of the start of the financial year-

(i)in relation to the financial year beginning in 1996, 32 days,

(ii)in relation to the financial year beginning in 1997, 28 days,

(iii)in relation to the financial year beginning in 1998, 24 days, and

(iv)in relation to a financial year beginning in or after 1999, 21 days, and

(b)in relation to a financial year beginning in or after 1996, the final instalment to be so paid or transferred on or before the beginning of a period of 14 days prior to the end of the financial year.".

(3) In relation to a financial year beginning in or after 1996, after paragraph 2(3) of Part I of Schedule 1 there shall be inserted-

"(4) Where the day on which the period referred to in sub-paragraph (1)(a) would end, or the period referred to in sub-paragraph (1)(b) would begin, is a Saturday, Sunday or bank holiday, then the periods shall respectively end, or be reduced to a period beginning, on the next day which is not a Saturday, Sunday or bank holiday.".

Explanatory Note

(This note is not part of the Regulations)

The Local Authorities (Funds) (England) Regulations 1992 make provision for the discharge by a billing authority of its liabilities to pay amounts in respect of precepts. Regulations 4 and 6 provide that a billing authority shall determine, and may amend, a schedule of instalments in accordance with rules prescribed in Schedule 1.

These Regulations amend paragraph 2(1) of Part I of Schedule 1 by requiring the schedule of instalments to be determined so as to require the first instalment to be paid or transferred to principal authorities within a shorter period than 5 weeks of the start of the financial year. The period is a number of days reducing from 32 to 21 between the financial years beginning in 1996 and 1999 (regulation 2(2)). The final instalment is, for financial years beginning in and after 1996, to be so paid or transferred by no later than 14 days, instead of within 8 weeks, prior to the end of the financial year. Where the final day of the period for the first instalment, or the final date for the last instalment, falls on a Saturday, Sunday or bank holiday, the periods for the instalments are extended to the next working day (regulation 2(3)).