Section 622(3)

The rate must be either— a rate prevailing on a day specified in the resolution, or a rate determined by taking the average of rates prevailing on each consecutive day of a period specified in the resolution. The day or period specified for the purposes of paragraph (a) or (b) must be within the period of 28 days ending on the day before the resolution is passed.

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Source: legislation.gov.uk · retrieved 2026-09-04