Grants
100General GLA grant
(1)For each financial year, the Secretary of State shall pay a grant (to be called “general GLA grant”) to the Authority.
(2)The grant shall be paid for the purposes of the Authority and the functional bodies.
(3)For each financial year the Secretary of State shall make a determination under this section.
(4)A determination shall state the amount of the grant for the year.
(5)Before making a determination, the Secretary of State shall consult the Mayor.
(6)The grant shall be paid in such instalments or such amounts and at such times as the Secretary of State may, with the Treasury’s consent, determine.
101GLA transport grant
(1)For each financial year, the Secretary of State shall pay a grant (to be called “GLA transport grant”) to the Authority.
(2)The grant shall be paid for the purposes of Transport for London.
(3)For each financial year the Secretary of State, after consultation with the Mayor, shall make a determination stating the amount of the grant for the year.
(4)The grant shall be paid in such instalments or such amounts and at such times as the Secretary of State may, with the Treasury’s consent, determine.
(5)The amount of the grant, or any terms relating to payment of the grant, may be varied from time to time by the Secretary of State after consultation with the Mayor.