The Greater London Council (Transfer of Land and Housing Accommodation) (No. 2) Order 1981

17.—(1) All goods and materials belonging to the Council which on the relevant date are situate and normally kept on or in any transferred property shall on that date be transferred to and vest in the appropriate Borough.

(2) Goods and materials transferred under paragraph (1) shall be shared and distributed among the Council and the Boroughs and the value of such goods and materials shall be adjusted between the Council and the Boroughs in a fair and reasonable manner having regard to the needs of the Boroughs in relation to the repair, maintenance and management of the transferred property, the needs of the Council in relation to their remaining property and to the goods and materials available to the Council to meet those needs.

(3) As soon as may be after the relevant date the Council and the Boroughs shall make and agree such scheme or schemes as may be necessary to give effect to paragraph (2) and on the coming into force of any such scheme the Council and the Boroughs shall give effect to it according to its terms.

(4) Articles 4, 9 and 10(1) shall apply in respect of any goods and materials transferred under paragraph (1) as they apply in respect of transferred property.

(5) In this article “goods and materials” means substances of all kinds, trade fittings and tools used in connection with the repair, maintenance or management of land or property.