Greater London Authority Act 1999

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4(1)If the Mayor fails to comply with paragraph 3(4) above, the Assembly shall—E+W+S

(a)prepare a draft component budget for each functional body, after consultation with that body;

[F1(b)prepare a draft component budget for the Mayor;

(bb)prepare a draft component budget for the Assembly; and]

(c)prepare a draft consolidated budget.

[F2(1A)If the draft consolidated budget does not comply with the relevant principles, the Assembly shall also prepare a draft substitute consolidated budget that complies with those principles.]

(2)If, at a public meeting of the Assembly, the draft consolidated budget prepared under sub-paragraph (1)(c) above is approved by the Assembly—

(a)that draft, as so approved, shall be the Authority’s consolidated budget for the financial year to which it relates; and

(b)the following provisions of this Schedule shall not apply in relation to the consolidated budget or the component budgets for that financial year.

[F3(3)If, at the public meeting referred to in sub-paragraph (2) above, the draft substitute consolidated budget prepared under sub-paragraph (1A) above is approved by the Assembly, that draft, as so approved, shall be the Authority's substitute consolidated budget for the financial year to which it relates.]

Textual Amendments

F1Sch. 6 para. 4(1)(b)(bb) substituted for Sch. 6 para. 4(1)(b) (E.W.) (with effect in accordance with s. 59(6) of the amending Act) by Greater London Authority Act 2007 (c. 24), ss. 13(3), 59(4); S.I. 2007/3107, art. 3