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3.—(1) Notwithstanding the commencement of paragraphs 15 to 17 of Schedule 12 to the Act, and the repeal of part of section 55 of the 1997 Act by Part V(6) of Schedule 15 to the Act, section 57 of the 1997 Act(1) shall continue to have effect as if—
(a)the outer London boroughs and the Common Council of the City of London were responsible authorities for the purposes of payment to them of grants towards the sums specified in sub-paragraph (2); and
(b)the sums specified in sub-paragraph (2) were payable for the purposes of functions under Part VI of the 1997 Act.
(2) The sums referred to in sub-paragraph (1) are sums payable by the outer London boroughs and the Common Council of the City of London in relation to loan debt contracted to support capital expenditure incurred before 1st April 1990 for the purposes of functions under Part VI of the 1997 Act.
Section 57 was amended by section 10 of the Local Government (Contracts) Act 1997 (c. 65).
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