SCHEDULES
SCHEDULE 2Constitution and General Functions of Greater London Council
Capital expenditure, loans and borrowing by the Council
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The expenditure by the Council on capital account or on lending to other persons shall be regulated by annual money Acts, the Bills for which shall be promoted by the Council and each of which shall make provision for a financial period consisting of a financial year (that is to say, a period of twelve months ending on the thirty-first day of March) and the immediately following six months.