Grants to Compensate Rating Authorities for Loss of RevenueS
34(1)[F1For the financial year 1995-96,]The Secretary of State shall make grants to rating authorities who lose revenue [F1in respect of the non-domestic sewerage rate] from exempt lands and heritages in consequence of the provisions of this Part of this Schedule.S
(2)Such grants shall be paid out of money provided by Parliament.
(3)Such grants shall be paid at such times as the Secretary of State may, with consent of the Treasury, determine.
(4)A grant to a rating authority under this paragraph shall be of such an amount as will fully compensate the authority for the lost revenue mentioned in sub-paragraph (1) above.
Textual Amendments
F1Words in Sch. 32 para. 34(1) inserted (1.4.1995) by 1994 c. 39, s. 159(3); S.I. 1994/3150, art. 4(a), Sch. 1