In section 15 of the M1Regional Development Agencies Act 1998 (audit of the regional development agencies) after subsection (3) of that section there shall be inserted—
“(4)Subsections (1) to (3) do not apply to the London Development Agency (whose accounts are, by virtue of paragraph 1(bc) of Schedule 2 to the M2Audit Commission Act 1998, to be audited in accordance with that Act).
(5)The London Development Agency shall send a copy of its audited accounts to the Mayor of London and the Chair of the London Assembly.”