Part III Financial Provisions

Chapter IV Revenue Accounts and Capital Finance

Supplementary provisions

I1124 Admissible factors in preparing capital spending plan etc.

1

In preparing a capital spending plan for any financial year, the Mayor may take account of such factors as appear to him to be appropriate.

2

The reference in subsection (1) above to preparing a capital spending plan for a financial year includes a reference to deciding, in the case of each of the functional bodies,—

a

the minimum amount of grant which the Authority is to pay to the body for the year under section 120 above; and

b

the amounts to be allocated to the body out of the category C and D amounts specified in the aggregate credit approval for the year.

3

Without prejudice to the generality of subsection (1) above, the Mayor may in particular take account of—

a

the capital spending plans for such financial years which have ended as he may determine; and

b

the amounts of each functional body’s total capital spending specified in section C of each of those plans which have been met as described in each of the paragraphs of subsection (4) below.

4

Those amounts are—

a

the amount met out of capital grants made to the body;

b

the amount met out of the usable part of the body’s capital receipts;

c

the amount met by using the aggregate credit approval or any additional credit approvals;

d

the amount met by making a charge to a revenue account.