The Local Authorities (Funds) (Wales) Regulations 1992
These Regulations apply only to Wales. They make provision for the discharge by a billing authority of its liabilities to pay amounts in respect of precepts from its collection and general funds and to make transfers between those funds to meet its estimatedexpenses. They also make provision for the apportionment between a billing authority and its major precepting authority of any estimated surplus or deficit in a billing authority’s collection fund.