9.—(1) On or before 31st December 1988 and 31st October in any later year, South Tyneside shall notify every other local council of its estimate of the amount to be paid to that council in the current financial year by way of net capital receipts under article 2(3) or an appropriate capital sum under article 3(4) and of the classes of disposals and repayments to which that amount relates.
(2) On making any payment of net capital receipts in pursuance of article 2(3) or of an appropriate capital sum in pursuance of article 3(4) South Tyneside shall notify the council of the classes of disposals and repayments to which the payment relates.
(3) For the purposes of paragraphs (1) and (2), disposals and repayments shall be classified in accordance with Schedule 1 to the Local Government (Prescribed Expenditure) (Consolidation and Amendment) Regulations 1987(1).
(4) When South Tyneside send a notification under paragraph (1) or (2) to another council they shall send a copy to the Secretary of State and in the case of a notification under paragraph (2) advise the Secretary of State of the amount paid to that council.
(5) South Tyneside shall —
(a)before the relevant date mentioned in paragraph (1) provide the Secretary of State with an estimate of the amount they anticipate they will retain in the current financial year by way of capital monies and of the classes of disposals and repayments to which that amount relates; and
(b)notify the Secretary of State when they retain any amount following a distribution of capital monies under paragraph (2) of the amount retained and the classes of disposals and repayments to which that amount relates.
(6) The Local Government Reorganisation (Capital Money) (Metropolitan Counties) Order 1986 shall cease to have effect in relation to the county on the transfer date.
S.I. 1987/2186.