10The following subsections shall be inserted after section 11(2) of the [1969 c. 35.] Transport (London) Act 1969 (which among other things requires the London Transport Executive to submit to the Greater London Council and obtain the Council's approval of any proposal for expenditure by the Executive or any subsidiary of theirs which involves a substantial outlay on capital account): —
“(2A)Any proposal by the Executive or any subsidiary of theirs to acquire—
(a)an interest in or right over land, other than a freehold interest, where the interest or right confers a right to occupy the land ; or
(b)an interest in or right over goods other than the property in them,
shall be treated for the purposes of subsection (2)(c) above as being a proposal involving an outlay on capital account.
(2B)In subsection (2A) above "freehold interest" means the fee simple absolute in possession (subject to any existing rights other than rights under a mortgage or charge to secure the payment of money) and " property " (in relation to goods) means the general property in them and not merely a special property.”.