In relation to each financial year a billing authority in Wales shall calculate the basic amount of its council tax by applying the formula—
In this section, references to sums payable for a financial year in respect of— are to be construed in accordance with section 32(12).
Where the aggregate calculated (or last calculated) by the authority for the year under subsection (2) of section 32 above does not exceed that so calculated under subsection (3) of that section, the amount for item R in subsection (1) above shall be nil.
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... the aggregate of the sums mentioned in item P in subsection (1) above shall be reduced by the amount calculated in accordance with the following formula—
In the case of a Welsh county council or county borough council the aggregate of the sums mentioned in item P in subsection (1) above shall be reduced by an amount calculated by applying the formula–
E is to be calculated by applying the formula–
Regulations under section 32(9) above may make such consequential alterations of the constituents of any calculation required by item P in subsection (1) above ... (whether by adding, deleting or amending items) as appear to the Secretary of State to be necessary or expedient.
The Welsh Ministers shall make regulations containing rules for making for any year the calculation required by item T in subsection (1) above; and a billing authority shall make the calculation for any year in accordance with the rules for the time being effective (as regards the year) under the regulations.
A statutory instrument containing regulations under subsection (5) is subject to annulment in pursuance of a resolution of Senedd Cymru.
Regulations prescribing a period for the purposes of item T in subsection (1) above may provide that, in any case where a billing authority fails to notify its calculation to the major precepting authorities concerned within that period, that item shall be determined in the prescribed manner by such authority or authorities as may be prescribed.