Every rate made by a rating authority shall be deemed to be made on the date on which it is approved by the authority,
For the purposes of the foregoing subsection, a resolution of a rating authority as respects the making of a rate shall be taken to constitute approval of the rate if the resolution specifies the amount per pound of rateable value at which the rate is to be levied, notwithstanding that the resolution—
Subject to subsection (5) of this section, every rate shall be made in respect of a period beginning immediately after the expiration of the last preceding rate period and ending on such date, to be specified in the rate, as may be fixed by the rating authority; and, in the case of the last rate made in respect of any year, the date so fixed shall be the last day of that year.
Where a rate is made for a period exceeding three months, the rating authority may declare that the rate shall be paid by instalments at specified times.
The rating authority may at any time make a supplementary rate if they think it necessary so to do having regard to the requirements of their area or to any precept.
Subsection (1) of this section shall not apply to the City of London.