Borrowing in relation to Mayoral CIL3
In regulation 60 (reimbursement of expenditure incurred and repayment of loans)—
a
in paragraph (3), at the beginning, insert “Subject to paragraph (7A),”;
b
after paragraph (7) insert—
7A
Until 31st March 2033, where the Greater London Authority or Transport for London3 has borrowed money for the purposes of, or in connection with, the provision of the scheduled works within the meaning of Schedule 1 to the Crossrail Act 20084, the Mayor may apply CIL to repay that money and any interest.