Commentary on Sections Schedule 3: Accounting
67.Paragraph 1 of Schedule 3 requires levying authorities that impose a BRS to set up and keep a BRS revenue account for that BRS and ensure that sums received in respect of it are credited to the BRS revenue account. Paragraph 1 also provides that if two or more levying authorities are acting jointly they must have their own BRS revenue accounts. Where the GLA levies a BRS, any functional body which receives any of the BRS receipts, including voluntary financial contributions, must also maintain a BRS revenue account.
68.Paragraph 2 makes provision for regulations to deal with how BRS receipts are transferred into the levying authority’s BRS revenue account. Paragraph 3 gives the Secretary of State and, in Wales, the Welsh Ministers the power to make regulations providing for refunds if a BRS comes to an end and for regulations to set out how refunds or credits are given.