7. Section 89 of the Greater London Authority Act 1999(1) shall be read as if after subsection (6) there were inserted the following subsection—
“(6A) The aggregate of the sums mentioned in item P2 in subsection (4) shall be reduced by the aggregate amount of any sums which the Authority estimates that it will pay in the year to billing authorities in accordance with section 31(3) of the Local Government Act 1999.”.
Section 89 is modified in relation to the financial year 2000/2001 by regulation 7 of S.I. 2000/213 and by S.I. 1999/3434 (C. 96).