Part VI FINANCIAL PROVISIONS IN RELATION TO THE AGENCY

chapter I GENERAL FINANCIAL PROVISIONS

118 Special duties with respect to flood defence revenue.

(1)

Revenue raised by the F1Agency as mentioned in subsection (2) below—

(a)

shall, except for any amount falling within subsection (3) below, be spent only in the carrying out of the F1Agency’s F2flood and coastal erosion risk management functions, within the meaning of Part 1 of the Flood and Water Management Act 2010, in or for the benefit of the F3flood risk management region in which it is raised; and

(b)

shall be disregarded in determining the amount of any surplus for the purposes of F4section 44(4) ofthe 1995 Act.

(2)

The revenue referred to in subsection (1) above is revenue raised by the F1Agency in a F5flood risk management region —

(a)

by virtue of any regulations under section 74 of the M1Local Government Finance Act 1988 (power to issue levies);

(b)

by general drainage charges under sections 134 F6and 135 below;

(c)

by special drainage charges under sections 137 and 138 below; or

(d)

by contributions required under section 139(1) below.

(3)

An amount falls within this subsection if it is an amount which the F1Agency considers it appropriate—

(a)

to set aside towards research or related activities or towards meeting the F1Agency’s administrative expenses; F7...

F7(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

Any amount specified in a resolution under section 58(1)(b) of the M2Land Drainage Act 1991 in relation to any F8flood risk management region (allocation of revenue in lieu of contributions) shall be treated for the purposes of this section as if it were revenue actually raised by contributions required under section 139(1) below.

(5)

For the purposes of this section, the following sums, that is to say—

(a)

any sums held by the F1Agency by virtue of any transfer of property, rights or liabilities from a water F1agency in accordance with a scheme under Schedule 2 to the M3Water Act 1989, in so far as those sums represent amounts which the water F1Agencywas required by virtue of paragraph 31 of Schedule 3 to the M4Water Act 1973 to spend only in the discharge of their land drainage functions in or for the benefit of a particular local land drainage district; and

(b)

any sums raised by the F1 Agency in a F9flood risk management region by virtue of a precept issued under section 46 of the M5Land Drainage Act 1976,

shall be treated as revenue raised by the F1Agency as mentioned in subsection (2) above in the corresponding F10flood risk management region or, as the case may be, in that local flood defence district.

F11(6)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(7)

In this section “flood risk management region” means the region of a Regional Flood and Coastal Committee, within the meaning of section 22 of the Flood and Water Management Act 2010.