This section has no associated Explanatory Notes
2(1)For each financial year, the Mayor shall prepare a draft of his proposed component budget for each of the constituent bodies (a “draft component budget”).E+W+S
[F1(2)The Mayor shall consult the Assembly—
(a)before preparing the draft component budget for the Mayor, and
(b)before preparing the draft component budget for the Assembly.]
(3)Before preparing the draft component budget for a functional body, the Mayor shall consult the body.
Textual Amendments
F1Sch. 6 para. 2(2) substituted (E.W.) (with effect in accordance with s. 59(6) of the amending Act) by Greater London Authority Act 2007 (c. 24), ss. 13(2), 59(4); S.I. 2007/3107, art. 3