Greater London Authority Act 1999

118 Part IV of 1989 Act and credit approvals under this Chapter

(1) Where a category A or B amount is specified for an authority in an aggregate credit approval or an additional credit approval, so much of the approval as relates to that amount shall be treated for the purposes of Part IV of the [1989 c. 42.] Local Government and Housing Act 1989 (other than sections 53 to 55) as a credit approval issued to that authority under that Part.

(2) Where an allocation from a category C or D amount specified in an aggregate credit approval or an additional credit approval is made by the Mayor—

(a) to the Authority, or

(b) to a functional body,

the notice of the allocation (read with so much of the credit approval as relates to the allocation) shall be treated for the purposes of Part IV of the [1989 c. 42.] Local Government and Housing Act 1989 (other than sections 53 to 55) as a credit approval issued under that Part to the Authority or, as the case may be, to the functional body.

(3) Section 56 of the [1989 c. 42.] Local Government and Housing Act 1989 (use of basic credit approvals and supplementary credit approvals) shall apply in relation to a credit approval treated by virtue of subsection (1) or (2) above as issued under Part IV of that Act as it applies in relation to a basic credit approval or a supplementary credit approval.

(4) Any reference in this Chapter to the use of an aggregate credit approval or an additional credit approval is a reference to the use, under Part IV of the [1989 c. 42.] Local Government and Housing Act 1989 or any other enactment, of any credit approvals treated as issued under that Part by virtue of the application of subsection (1) or (2) above in relation to the aggregate credit approval or, as the case may be, the additional credit approval (and related expressions shall be construed accordingly).