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(1)A direction under section 78(1) (a “principal direction”) may make provision with respect to—
(a)any of the matters with respect to which provision is required to be made by the specified arrangements by virtue of regulations under section 75, and
(b)such other matters as the Secretary of State considers appropriate.
(2)The Secretary of State may in particular (either in a principal direction or in any subsequent direction) make provision—
(a)for the determination, whether—
(i)by agreement, or
(ii)(in default of agreement) by the Secretary of State or an arbitrator appointed by him,
of the amount of any payments which need to be made by one body to another for the purposes of the effective operation of the specified arrangements, and for the variation of any such determination,
(b)specifying the manner in which the amount of any such payments must be so determined (or varied),
(c)requiring a body specified in the direction to supply to the Secretary of State or an arbitrator, for the purpose of enabling any such amount to be so determined (or varied), such information or documents as may be so specified,
(d)requiring any amount so determined (or varied) to be paid by and to such bodies as are specified in the direction,
(e)requiring capital assets specified in the direction to be made available by and to such bodies as are so specified.
(3)The Secretary of State may, when giving a principal direction to any bodies to which section 78 applies, give such directions to any other such body as he considers appropriate for or in connection with securing that full effect is given to the principal direction.
(4)Before giving a principal direction to any bodies to which section 78 applies, the Secretary of State may—
(a)direct either or both of the bodies in question to take such steps specified in the direction, or
(b)give such other directions,
as he considers appropriate with a view to enabling him to determine whether the principal direction should be given.
(5)The revocation of a principal direction does not affect the continued operation of the specified arrangements.
(6)“The specified arrangements”, in relation to a principal direction, means the arrangements specified in the direction in pursuance of section 78(1).
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