Borrowing in relation to Mayoral CIL
This section has no associated Explanatory Memorandum
3. 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 London(1) 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 2008(2), the Mayor may apply CIL to repay that money and any interest.”.
(1)
The Greater London Authority and Transport for London were established by sections 1(1) and 154(1) respectively of the Greater London Authority Act 1999 (c.29).
(2)