Regional Development Agencies Act 1998

9 General financial duties

(1) The Secretary of State may—

(a) after consultation with a regional development agency, and

(b) with the approval of the Treasury,

determine the financial duties of the agency; and different determinations may be made for different functions of the agency.

(2) The Secretary of State shall give a regional development agency notice of every determination of its financial duties under this section, and such a determination may—

(a) relate to a period beginning before, on, or after, the date on which it is made,

(b) contain supplemental provisions, and

(c) be varied by a subsequent determination.

(3) The Secretary of State may, after consultation with the Treasury, give a direction to a regional development agency requiring it to pay to him an amount equal to the whole or such part as may be specified in the direction of any sum, or any sum of a description, so specified which is or has been received by the agency.

(4) Where it appears to the Secretary of State that a regional development agency has a surplus, whether on capital or revenue account, he may, after consultation with the Treasury, direct the agency to pay to him such amount not exceeding the amount of that surplus as may be specified in the direction.