The proposals to be submitted under section one of this Act in respect of any metropolitan borough shall be submitted jointly by the London County Council and the council of the borough.

Paragraph (a) of the proviso to section thirty-three of the principal Act (which restricts the power of the council of a metropolitan borough to declare an area a clearance area pending the decision of the London County Council) shall cease to have effect.

In the application of section eight of this Act to the London County Council, the reference in subsection (1) of that section to the general rate fund shall be construed as a reference to the county fund.