(1)So far as relating to—
(a)GLA roads, and
(b)roads in Greater London which are neither GLA roads nor trunk roads,
the functions transferred to the Secretary of State by orders under paragraph 10 of Schedule 5 to the M1Local Government Act 1985 are transferred to Transport for London by this subsection.
(2)The functions referred to in subsection (1) above are the functions conferred by sections 65, 73, 74 and 75 of the M2Road Traffic Regulation Act 1984 in respect of traffic signs which are traffic light signals controlling the movement of any class of road traffic (including pedestrians).
(3)Any expenses reasonably incurred by or on behalf of Transport for London in the exercise, in relation to roads which are not GLA roads, of the functions transferred by this section may be recovered by Transport for London from the London borough councils and the Common Council in such proportions as may be agreed between Transport for London and those authorities or, in default of agreement, as may be determined by Transport for London.
(4)Any reference in this section to a GLA road includes a reference to a GLA side road.