[52X Calculations to be net of precepts]

[52X  Calculations to be net of precepts]

[(1)     The amount referred to in section 52W(3) above shall be taken to be the amount calculated as there mentioned less the aggregate amount for the year of any precepts which were (or could be) taken into account by the authority in making the calculation under section 32(2) above and which were (or could be)—

(a)     issued to it by local precepting authorities, or

(b)     anticipated by it in pursuance of regulations under section 41 above.

(2)     Subsection (3) below applies where this Chapter refers to any

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