Modifications etc. (not altering text)
C1Sch. 7 applied by 1992 c. 14, s. 52ZU(11) (as inserted (3.12.2011) by Localism Act 2011 (c. 20), ss. 72(1), 240(2), Sch. 5; S.I. 2011/2896, art. 2(i))
Textual Amendments
F1Sch. 7 para. 4A and cross-heading inserted (E.W.) (with effect in accordance with s. 59(6) of the amending Act) by Greater London Authority Act 2007 (c. 24), ss. 14(2), 59(4); S.I. 2007/3107, art. 3
4A(1)In exercising its powers of amendment under paragraph 4(3) above, the Assembly must not make amendments affecting the amount of the first draft component [F2council tax] requirement for the Assembly if those amendments, taken together, contravene sub-paragraph (2) below.E+W+S
(2)Amendments contravene this sub-paragraph if—
(a)the effect of implementing the amendments is to increase the amount of the first draft component [F3council tax] requirement for the Assembly, and
(b)the condition in sub-paragraph (3) below is met.
(3)The condition is that—
(a)the first draft component [F4council tax] requirement for the Assembly, after implementing the amendments,
exceeds
(b)the adjusted previous component [F4council tax] requirement for the Assembly (see sub-paragraph (5)).
(4)This paragraph is without prejudice to section 49(2) of the Local Government Finance Act 1992 (substitute amount not to exceed previous amount (but see section 49(6) of that Act)).
(5)Find the adjusted previous component [F5council tax] requirement for the Assembly as follows.
(6)Find NM and OM, where—
NM is the first draft component [F5council tax] requirement for the Mayor, before implementing any amendments under paragraph 4(3) above;
OM is the component [F5council tax] requirement for the Mayor for the previous financial year.
(7)If NM is greater than OM—
(a)find the percentage by which NM is greater than OM, and
(b)increase the amount of the component [F5council tax] requirement for the Assembly for the previous financial year by the same percentage.
The result is the adjusted previous component [F5council tax] requirement for the Assembly.
(8)If NM is less than OM—
(a)find the percentage by which NM is less than OM, and
(b)reduce the amount of the component [F5council tax] requirement for the Assembly for the previous financial year by the same percentage.
The result is the adjusted previous component [F5council tax] requirement for the Assembly.
(9)If NM equals OM, then—
(a)the adjusted previous component [F5council tax] requirement for the Assembly,
equals
(b)the amount of the component [F5council tax] requirement for the Assembly for the previous financial year.
(10)Sub-paragraphs (9) to (11) of paragraph 5A of Schedule 6 to this Act (power of chief finance officer to direct amounts to be left out of account) also have effect for the purposes of this paragraph.
(11)For the purposes of this Schedule—
(a)“component budget” has the same meaning as in Schedule 6 to this Act;
(b)the “first draft component budget” for any constituent body is the draft component budget for that body comprised in the first draft;
(c)the “first draft component [F6council tax] requirement” for any constituent body is the component [F6council tax] requirement for the body as stated in the first draft component budget for the body.]
Textual Amendments
F2Words in Sch. 7 para. 4A(1) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 41(a); S.I. 2011/2896, art. 2(i)
F3Words in Sch. 7 para. 4A(2)(a) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 41(a); S.I. 2011/2896, art. 2(i)
F4Words in Sch. 7 para. 4A(3) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 41(a); S.I. 2011/2896, art. 2(i)
F5Words in Sch. 7 paras. 4A(5)-(9) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 41(a); S.I. 2011/2896, art. 2(i)
F6Words in Sch. 7 para. 4A(11)(c) substituted (3.12.2011) by Localism Act 2011 (c. 20), s. 240(2), Sch. 7 para. 41(a); S.I. 2011/2896, art. 2(i)