Greater London Authority Act 1999

124 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.