73.—(1) The undertaker must use reasonable endeavours to agree with Transport for London a schedule of new highway assets which are proposed to become the maintenance responsibility of Transport for London as a result of the authorised development under article 11 (construction and maintenance of new, altered or diverted streets and other structures) and article 16(1)(b) (classification of roads, etc.) of the Order.E+W
(2) Where the schedule prepared under paragraph (1) cannot be agreed, the matters of dispute shall be determined in accordance with paragraph 74.
(3) Following agreement of the schedule under sub-paragraph (1) or determination under subparagraph (2), Transport for London must prepare a calculation of the Commuted Sum based on the maintenance Transport for London considers to be required for the schedule of highway assets agreed under sub-paragraph (1) or determined under sub-paragraph (2) and must use reasonable endeavours to agree it with the undertaker.
(4) The undertaker must be provided with a complete breakdown of the calculation of the Commuted Sum by Transport for London under sub-paragraph (3) including any assumptions used.
(5) Where the calculation prepared under sub-paragraph (3) cannot be agreed, the matters of dispute shall be determined in accordance with paragraph 74.
(6) The undertaker must pay the Commuted Sum to Transport for London in one instalment within 10 working days of the later of—
(a)the date of completion of the authorised development; or
(b)the date of agreement of the value of the Commuted Sum under sub-paragraph (3) or determination under sub-paragraph (5).
Commencement Information
I1Sch. 9 para. 73 in force at 6.6.2022, see art. 1