511Catching up of shortfall in general income

#### 511 Catching up of shortfall in general income 511 Catching up of shortfall in general income > > (1) If the rates and charges made by a council for a year that produce its general income produce an amount of general income that is less than the maximum amount permissible under section 509 for that year because the council did not apply a full percentage increase applicable to it under section 506, 508(2) or 508A for the year for which the rates and charges were made, the council may make rates and charges for any 1 or more of the next 10 years after the year for which the shortfall occurred so as to produce the maximum amount so permissible of the general income plus the whole or any part of the shortfall. > > > > Note. > > > > For example, a council that had a shortfall referred to in subsection (1) of $100,000 in a particular year could recover that amount by increasing the amount of rates and charges— > > > > > (a) in 1 of the next 10 years to recover an additional $100,000 in that year, or > > > > > (b) in 4 of the next 10 years to recover an additional $25,000 in each of those years, or > > > > > (c) in each of the next 10 years to recover an additional $10,000 in each of those years. > > > (2) An amount of a shortfall caught up in accordance with this section may be caught up once only. > > **s 511:** Am 1995 No 11, Sch 1.75 \[7\]; 2004 No 25, Sch 1 \[4\]; 2020 No 5, Sch 1.19\[1\] \[2\].