Part III Financial Provisions
Chapter V Financial Administration, Accounts and Audit
Financial administration
I1127 Proper financial administration and chief finance officer.
1
In this section relevant authority means—
a
the Authority; or
b
a functional body.
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Every relevant authority—
a
shall make arrangements for the proper administration of its financial affairs; and
b
shall secure that one of its officers (its chief finance officer) has responsibility for the administration of those affairs.
3
No person may be the chief finance officer of two or more relevant authorities at the same time.
4
In subsection (2)(b) above, the reference to officers includes a reference to employees or members of staff and, in the case of Transport for LondonF2, includes a reference to its members.
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Section 127A below makes further provision with respect to the Authority's chief finance officer for the purposes of subsection (2)(b) above.
6
The function of appointing the Authority’s chief finance officer under subsection (2)(b) above shall be a function of the Authority which is exercisable on behalf of the Authority by the Assembly after consultation with the Mayor.
7
If the Mayor is a member of Transport for London, he must not be its chief finance officer.
8
In section 2 of the M1Local Government and Housing Act 1989 (politically restricted posts) in subsection (6)(d) (the effect of which is that the chief finance officer appointed under certain provisions is included among the chief statutory officers for the purposes of that section) after section 112 of the M2Local Government Finance Act 1988 there shall be inserted “
, section 127(2) of the Greater London Authority Act 1999
”
.