Local Government, England Citation, application and commencement 1 These Regulations, which apply in relation to England only, may be cited as the Business Rate Supplements (Accounting) (England) Regulations 2010 and shall come into force on 22nd March 2010. Interpretation 2 In these Regulations— “ the Act ” means the Business Rate Supplements Act 2009; “the Transfers Regulations ” means the Business Rate Supplements (Transfers to Revenue Accounts) (England) Regulations 2009 ; “financial contribution” means a financial contribution such as is mentioned in section 3(6) of the Act; and “revenue account” means the account kept by — a levying authority under paragraph 1(1) of Schedule 3 to the Act, or a functional body under paragraph 1(2) of Schedule 3 to the Act. The BRS revenue account 3 Schedule 1 shall have effect with respect to the keeping of a revenue account. Deficit in the BRS revenue account – levying authority 4 1 Subject to paragraph (2), after the end of each financial year of a BRS, a levying authority shall— a make good any deficit in its revenue account from its general fund by 31st July in the following financial year; or b apply any credit in its revenue account towards making good to its general fund any amount charged to that fund under sub-paragraph (a) in the ten years immediately preceding that financial year. 2 Paragraph (1) shall not apply where the imposition of a BRS has come to an end in that financial year. Deficit in the BRS revenue account – functional body 5 After the end of each financial year of a BRS, the Greater London Authority shall make good any deficit in the BRS revenue account of a functional body from its own revenue account by 31st July in the following financial year. Refunds and credits 6 Schedule 2 shall have effect with respect to refunds and credits in respect of a financial year where— a i the imposition of a BRS has come to an end; or ii the Secretary of State has, under section 24(3), directed the levying authority to cancel the imposition of the BRS of the Act; and b the revenue account is in credit. Amendment of the Transfers Regulations 7 1 The Transfers Regulations are amended as follows. 2 In Schedule 1 (transfer of BRS Revenues: billing authorities which are levying authorities)— a for paragraph 1, substitute— 1 1 A billing authority which is a levying authority shall transfer any amounts it receives in respect of BRS (including the amount of any financial contributions made to it for the purposes mentioned in section 3(6) of the Act) during a financial year from its collection fund to its revenue account. 2 The amount of any financial contributions made to the billing authority for the purposes mentioned in section 3(6) of the Act, shall be ignored for the purpose of the application of paragraphs 2 and 3. ; and b in paragraph 3(1), for the year “2010” substitute “2011”. 3 In Schedule 2 (transfer of BRS Revenues: billing authorities which are not levying authorities)— a in paragraph 1 (interpretation)— i for definition of “final return” substitute— “final return” means the return required by paragraph 7(1); ; and ii for the definition of “provisional return” substitute— “provisional return”, except in the expressions “revised provisional return” and “variation provisional return”, means the return required by paragraph 2(1); ; b after paragraph 1, insert— Transfer of financial contributions 1A 1 A billing authority which is not a levying authority shall transfer the amount of any financial contributions made to it for the purposes mentioned in section 3(6) of the Act from its collection fund to the levying authority’s revenue account. 2 Transfers under sub-paragraph (1) shall be made as soon as practicable after the receipt of the financial contributions. 3 The amount of any financial contributions shall be ignored for the purpose of the application of paragraphs 2 to 10. ; c in paragraph 5(7), for the words “If the amount referred to in sub-paragraph 2(c) is greater than zero,” substitute “If the total amount calculated under sub-paragraph (3) is greater than the aggregate of the instalments the billing authority has paid to the relevant levying authority in the relevant year,”; d in paragraph 6(2), for “sub-paragraph (6)” substitute “sub-paragraph (5)”; and e in paragraph 10(1)(b), omit the words “(in the absence of an authorisation under sub-paragraph (2)(b))”. Signed by the authority of the Secretary of State for Communities and Local Government Barbara Follett Parliamentary Under Secretary of State Department for Communities and Local Government 21st February 2010