(1)The [1961 c. 62.] Trustee Investments Act 1961 shall be amended as follows.
(2)In section 11 (local authority investment schemes) in subsection (4) (the authorities to which the section applies) in paragraph (a)—
(a)after “England and Wales” there shall be inserted “, the Greater London Authority,”; and
(b)after “Common Council of the City of London” there shall be inserted “, a functional body (within the meaning of the Greater London Authority Act 1999),”.
(3)In Schedule 1, in Part II (narrower-range investments requiring advice), in paragraph 9—
(a)after paragraph (a) there shall be inserted—
“(aa)the Greater London Authority;
(ab)any functional body, within the meaning of the Greater London Authority Act 1999;”; and
(b)in paragraph (d), the words “the Receiver for the Metropolitan Police District or” shall cease to have effect.