Local Transport Act 2008

Financial provisions

15 After paragraph 11 insert—

“Application of proceeds by Integrated Transport Authorities

11A (1) This paragraph applies to an Integrated Transport Authority’s share of the net proceeds of any relevant scheme.

(2) The share of the net proceeds is available only—

(a) for application by the Authority for the purpose of directly or indirectly facilitating the achievement of any of the Authority’s local transport policies, or

(b) for application in accordance with sub-paragraph (4) by an authority falling within sub-paragraph (3) selected by the Authority.

(3) The authorities which fall within this sub-paragraph are—

(a) non-metropolitan local traffic authorities;

(b) London traffic authorities and the Greater London Authority.

(4) A share of the net proceeds of a relevant scheme is applied in accordance with this sub-paragraph if it is applied—

(a) by a non-metropolitan local traffic authority for the purpose of directly or indirectly facilitating the achievement of any of its local transport policies, or

(b) by a London traffic authority or the Greater London Authority in accordance with the transport strategy prepared and published under section 142 of the Greater London Authority Act 1999,

in a way which will benefit the whole or any part of the integrated transport area of the Authority.

11B (1) A relevant scheme made by an Integrated Transport Authority must include—

(a) a general plan relating to the application of its share of the net proceeds of the relevant scheme during the opening ten year period, and

(b) a detailed programme for the application of its share for the net proceeds of the relevant scheme during the opening five year period.

(2) See paragraph 10(2) for the meaning of “the opening ten year period” and “the opening five year period”.

11C (1) If a relevant scheme made by an Integrated Transport Authority remains in force after the end of the opening five year period, the Authority shall, during every fifth financial year after the financial year in which the scheme comes into force, prepare a detailed programme for the application of its share of the net proceeds of the scheme during the next five years.

(2) Any programme prepared in accordance with sub-paragraph (1) in relation to a relevant scheme prevails over any conflicting provisions in the general plan included in the scheme pursuant to paragraph 11B(1)(a).

(3) Except with the consent of the Secretary of State in any particular case, an Integrated Transport Authority may not apply its share of the net proceeds of a scheme for any purpose (other than making good any amount to its general fund) in any financial year beginning after the end of the opening five year period unless it is complying with sub-paragraph (1).”.