Local Government Act 1929

85 Discontinuance of grants.

(1) The grants set out in the Second Schedule to this Act (in this Act referred to as "the Discontinued Grants") shall cease to be payable in respect of any period after the thirty-first day of March, nineteen hundred and thirty.

(2) For the purposes of this Part of this Act, any part of a discontinued grant paid in any year to a voluntary association (other than the King Edward the Seventh Welsh National Memorial Association) shall be treated as paid in respect of that year, notwithstanding that the amount thereof was based on the expenditure of the association in the preceding year.

(3) As soon as may be after the appointed day, the Local Taxation Account and the Exchequer Contribution Account of every county and county borough shall be wound up in accordance with such directions as, in the case of the Local Taxation Account, the Treasury, and in the case of the Exchequer Contribution Accounts, the Minister, may give.

(4) The provisions set out in the Third Schedule to this Act shall, as from the appointed day, have effect with respect to the payments therein mentioned, being payments which immediately before the appointed day were payable out of Local Taxation Accounts, or out of moneys which would have been payable to such accounts or were payments required to be charged to Exchequer Contribution Accounts.

(5) Where, immediately before the appointed day, there is in force a financial adjustment between any spending authorities with respect to any of the discontinued grants payable to those authorities, such financial adjustment shall, as from the appointed day, cease to have effect, and if and so far as, having regard to the Exchequer Grants payable under this Part of this Act, any new financial adjustment is necessary, a new financial adjustment on an equitable basis shall be made by agreement between the spending authorities, or, in default of agreement, by a single arbitrator appointed by the Minister.