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(1)Revenue raised by the [F1Agency] as mentioned in subsection (2) below—
(a)shall, except for any amount falling within subsection (3) below, be spent only in the carrying out of the [F1Agency’s] [F2flood and coastal erosion risk management functions, within the meaning of Part 1 of the Flood and Water Management Act 2010,] in or for the benefit of the [F3flood risk management region] in which it is raised; and
(b)shall be disregarded in determining the amount of any surplus for the purposes of [F4section 44(4) ofthe 1995 Act].
(2)The revenue referred to in subsection (1) above is revenue raised by the [F1Agency] in a [F5flood risk management region ] —
(a)by virtue of any regulations under section 74 of the M1Local Government Finance Act 1988 (power to issue levies);
(b)by general drainage charges under sections 134 [F6and 135] below;
(c)by special drainage charges under sections 137 and 138 below; or
(d)by contributions required under section 139(1) below.
(3)An amount falls within this subsection if it is an amount which the [F1Agency] considers it appropriate—
(a)to set aside towards research or related activities or towards meeting the [F1Agency’s] administrative expenses; F7...
F7(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Any amount specified in a resolution under section 58(1)(b) of the M2Land Drainage Act 1991 in relation to any [F8flood risk management region] (allocation of revenue in lieu of contributions) shall be treated for the purposes of this section as if it were revenue actually raised by contributions required under section 139(1) below.
(5)For the purposes of this section, the following sums, that is to say—
(a)any sums held by the [F1Agency] by virtue of any transfer of property, rights or liabilities from a water [F1agency] in accordance with a scheme under Schedule 2 to the M3Water Act 1989, in so far as those sums represent amounts which the water [F1Agency]was required by virtue of paragraph 31 of Schedule 3 to the M4Water Act 1973 to spend only in the discharge of their land drainage functions in or for the benefit of a particular local land drainage district; and
(b)any sums raised by the [F1 Agency] in a [F9flood risk management region] by virtue of a precept issued under section 46 of the M5Land Drainage Act 1976,
shall be treated as revenue raised by the [F1Agency] as mentioned in subsection (2) above in the corresponding [F10flood risk management region] or, as the case may be, in that local flood defence district.
F11(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F12(7)In this section “flood risk management region” means the region of a Regional Flood and Coastal Committee, within the meaning of section 22 of the Flood and Water Management Act 2010.]
Textual Amendments
F1Words in s. 118 substituted (subject to other provisions of the amending Act) (1.4.1996) by 1995 c. 25, s. 120, Sch. 22 para. 128 (with ss. 7(6), 115, 117); S.I. 1996/186, art. 3
F2Words in s. 118(1) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(2)(a) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F3Words in s. 118(1) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(2)(b) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F4Words in s. 118(1)(b) substituted (1.4.1996) by 1995 c. 25, s. 120(1), Sch. 22, para. 150(2) (with ss. 7(6), 115, 117)); S.I. 1996/186, art. 3
F5Words in s. 118(2) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(3) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F6Words in s. 118(2)(b) substituted (1.4.1996) by 1995 c. 25, s. 120(1), Sch. 22, para. 150(3) (with ss. 7(6), 115, 117); S.I. 1996/186, art. 3
F7S. 118(3)(b) and word omitted (1.4.2011) by virtue of Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(4) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F8Words in s. 118(4) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(5) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F9Words in s. 118(5) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(6)(a) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F10Words in s. 118(5) substituted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(6)(b) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F11S. 118(6) omitted (1.4.2011) by virtue of Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(7) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
F12S. 118(7) added (1.4.2011) by Flood and Water Management Act 2010 (c. 29), s. 49(3), Sch. 2 para. 43(8) (with s. 49(1)(6)); S.I. 2011/694, art. 3(g)
Modifications etc. (not altering text)
C1S. 118 restricted (1.4.2011) by Flood and Water Management Act 2010 (c. 29), ss. 23(4), 49(3) (with s. 49(1)(6)); S.I. 2011/694, art. 3(c)
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