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Capital receipts and mutual grants |
| Power to redistribute capital receipts of functional bodies. |
104. - (1) The Secretary of State may make regulations for and in connection with conferring on the Mayor power to direct any functional body to pay to the Authority such percentage as may be specified in the direction of so much of the usable part of the body's capital receipts as may be so specified.
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(2) The power conferred on the Mayor must be exercisable only for the purpose of enabling the amount paid under such a direction (the "relevant amount") to be applied towards meeting expenditure for capital purposes of another functional body or of the Authority ("the assisted body").
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(3) The provision that may be made by regulations under subsection (1) above includes provision-
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(a) with respect to the percentage or maximum percentage that may be specified in a direction; |
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(b) with respect to the portion of the usable part of a functional body's capital receipts in respect of which a direction may be issued; |
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(c) requiring a direction to be complied with before the expiration of a prescribed period; |
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(d) requiring the Mayor, within such time or in such manner as may be prescribed, to notify the functional bodies of decisions taken with respect to the exercise of powers conferred by the regulations; |
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(e) for and in connection with enabling the Mayor to permit the relevant amount to be applied towards meeting expenditure for capital purposes of the assisted body generally or to require it to be applied towards meeting only such expenditure of a particular description; |
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(f) for and in connection with treating the whole or a prescribed part of the relevant amount as added to the usable part of the capital receipts of the assisted body, for the purposes of Part IV of the Local Government and Housing Act 1989; |
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(g) for and in connection with requiring an assisted body to apply the relevant amount only for the purposes for which it was paid to the body. |
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(4) In this section "prescribed" means prescribed by regulations.
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| Capital grants between Authority and functional bodies. |
105. - (1) The Authority may pay grants towards meeting expenditure for capital purposes incurred or to be incurred by a functional body for the purposes of, or in connection with, the discharge of the functions of that body.
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(2) A functional body may, with the consent of the Mayor, pay a grant towards meeting expenditure for capital purposes incurred or to be incurred by another functional body, or by the Authority, for the purposes of, or in connection with, the discharge of the functions of the body to which the grant is made.
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(3) A grant under this section must not be made subject to any limitation in respect of the expenditure for capital purposes which it may be applied towards meeting.
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(4) A grant under this section must be applied by the recipient body solely towards meeting expenditure for capital purposes incurred or to be incurred by that body for the purposes of, or in connection with, the discharge of its functions.
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| Revenue grants between Authority and functional bodies. |
106. - (1) The Authority may pay grants towards meeting expenditure, other than expenditure for capital purposes, incurred or to be incurred by a functional body for the purposes of, or in connection with, the discharge of the functions of that body.
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(2) A functional body may, with the consent of the Mayor, pay a grant towards meeting expenditure, other than expenditure for capital purposes, incurred or to be incurred by another functional body, or by the Authority, for the purposes of, or in connection with, the discharge of the functions of the body to which the grant is made.
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(3) A grant under this section must not be made subject to any limitation in respect of the expenditure which it may be applied towards meeting (other than that the expenditure must not be expenditure for capital purposes).
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(4) A grant under this section must be applied by the recipient body solely towards meeting expenditure incurred or to be incurred by that body for the purposes of, or in connection with, the discharge of its functions, other than expenditure for capital purposes.
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The Mayor's capital spending plan |
| Form and contents of capital spending plan. |
107. - (1) The Mayor shall, in accordance with the following provisions of this section and sections 108 and 109 below, prepare for each financial year a capital spending plan for the functional bodies.
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(2) A capital spending plan shall consist of the sections described in subsections (3) to (6) below.
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(3) Section A of a capital spending plan shall consist of a statement for each functional body of the Mayor's estimates of the following amounts-
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(a) the total amount of capital grants likely to be paid to the body during the year by any person other than the Authority; |
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(b) the amount, at the beginning of the year, of the usable part of the body's capital receipts; and |
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(c) the amount by which the usable part of the body's capital receipts is likely to be increased by capital receipts which it appears to the Mayor the functional body might reasonably be expected to receive, or is likely to receive, during the year. |
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(4) Section B of a capital spending plan shall consist of a statement for each functional body of the following amounts-
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(a) the minimum amount of grant which the Mayor has decided that the Authority is to pay to the body for the year under section 105 above; |
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(b) the total amount of category A amounts specified for the body in the aggregate credit approval for the year; |
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(c) the total amount of category B amounts specified for the body in the aggregate credit approval for the year; and |
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(d) each amount which the Mayor has decided to allocate to the body out of the category C and D amounts specified in the aggregate credit approval for the year (together with a statement of the purposes for which the amount is allocated). |
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(5) Section C of a capital spending plan shall consist of a statement for each functional body of the total of the following amounts-
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(a) the total amount of expenditure for capital purposes which the Mayor expects the body to incur during the year; and |
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(b) the total amount of credit cover which the Mayor expects the body to have available under sections 50(2) and 51(4) of the Local Government and Housing Act 1989 with respect to credit arrangements entered into or varied during the year; |
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and in this section the total of those amounts is referred to as the body's "total capital spending" for the year.
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(6) Section D of a capital spending plan shall consist of an analysis of each functional body's total capital spending for the year showing-
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(a) the amount which the Mayor expects the body to meet out of capital grants; |
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(b) the amount which he expects the body to meet out of the usable part of its capital receipts; |
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(c) the amount which he expects the body to meet by using the aggregate credit approval for the year; |
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(d) the amount which he expects the body to meet by making a charge to a revenue account. |
| Preparation of the plan: consultation and completion. |
108. - (1) After the Secretary of State has issued the aggregate credit approval for a financial year, the Mayor shall prepare a draft of the capital spending plan for the year.
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(2) Before 15th January in the financial year preceding that to which the capital spending plan relates, the Mayor shall-
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(a) send a copy of the draft to the Assembly and to each functional body; and |
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(b) invite them to submit their comments on the draft to him in writing within 21 days. |
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(3) Before finally determining the contents of the capital spending plan, the Mayor shall consider any comments submitted in accordance with the invitation under subsection (2)(b) above and make such revisions of the draft as he thinks fit, having regard to those comments.
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(4) Before 28th February in the financial year preceding that to which the capital spending plan relates, the Mayor shall-
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(a) send the plan to the Secretary of State; and |
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(b) send a copy of the plan to the Assembly and to each functional body. |
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(5) The Mayor shall make a copy of the capital spending plan available for inspection by members of the public on request at the offices of the Authority at reasonable hours without charge.
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