The London Authorities (Property etc.) Order 1964

18.—(1) The balance on the general county account of the administrative county of London apart from the following funds and accounts, namely—

• the housing repairs and renewals fund

• the mechanical vehicles (housing) repairs and renewals fund

• the Royal Festival Hall repairs and renewals fund

• the Crystal Palace fund

• the main drainage account,

shall be payable to the rating authorities of the relevant London boroughs, the City, the Inner Temple and the Middle Temple in the proportions which the products of rates of one penny in the pound for the several boroughs (or in the case of the London borough of Newham of the part of the existing metropolitan borough of Woolwich comprised therein), the City, the Inner Temple and the Middle Temple bear to the product of a rate of one penny in the pound for the county.

The balance on the said main drainage account shall be payable to the rating authorities of the inner London boroughs, the London boroughs of Barking, Barnet, Brent, Bromley, Croydon, Ealing, Haringey, Hounslow, Newham, Redbridge and Waltham Forest, the City, the Inner Temple and the Middle Temple in the proportions which the products of rates of one penny in the pound for the portions of the area chargeable as regards main drainage comprised in such areas bear to the product of a rate of one penny in the pound for the whole of such area.

(2) The balance on the special county account of the administrative county of London shall be payable to the rating authorities of the relevant London boroughs in the proportions which the products of rates of one penny in the pound for the several boroughs (or in the case of the London borough of Newham for the part of the existing metropolitan borough of Woolwich comprised therein) bear to the product of a rate of one penny in the pound for the county.