Part III Financial Provisions
Chapter IV Revenue Accounts and Capital Finance
Supplementary provisions
I1124 Admissible factors in preparing capital spending plan etc.
1
In preparing a capital spending plan for any financial year, the Mayor may take account of such factors as appear to him to be appropriate.
2
The reference in subsection (1) above to preparing a capital spending plan for a financial year includes a reference to deciding, in the case of each of the functional bodies,—
a
the minimum amount of grant which the Authority is to pay to the body for the year under section 120 above; and
F2b
the amounts to be transferred to the body under section 32(5) of the Local Government Act 2003 (Mayor’s power to transfer expenditure grant);
3
Without prejudice to the generality of subsection (1) above, the Mayor may in particular take account of—
a
the capital spending plans for such financial years which have ended as he may determine; and
b
the amounts of each functional body’s total capital spending specified in section C of each of those plans which have been met as described in each of the paragraphs of subsection (4) below.
4
Those amounts are—
a
the amount met out of capital grants made to the body;
F4c
the amount met by borrowing or entering into or varying credit arrangements;
d
the amount met by making a charge to a revenue account.
125 Information.
1
The Mayor may serve on a functional body a notice requiring the body to supply to him such information as is specified in the notice and required by him for the purpose of deciding whether to exercise his powers, and how to perform his functions, under this Chapter.
2
If the information specified in a notice under this section is in the possession or under the control of the functional body on which the notice is served, the body shall supply the information required in such form and manner, and at such time, as is specified in the notice and, if the notice so requires, the information shall be certified (according as is specified in the notice) F8...—
a
by the chief finance officer of the body, within the meaning of section 127 below, or by such other person as may be specified in the notice; F7...
F7b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
If a functional body fails to comply with subsection (2) above, the Mayor may decide—
a
whether to exercise his powers, and how to perform his functions, under this Chapter, or
b
whether the body has acted, or is likely to act, in accordance with this Chapter,
on the basis of such assumptions and estimates as he thinks fit.
4
In deciding—
a
whether to exercise his powers, and how to perform his functions, under this Chapter, or
b
whether a functional body has acted, or is likely to act, in accordance with this Chapter,
the Mayor may also take into account any other information available to him, whatever its source and whether or not obtained under a provision contained in or made under this or any other enactment.
126 Interpretation of Chapter IV.
F51
In this Chapter—
“capital expenditure” and “capital receipt” have the same meaning as in Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance);
“capital spending plan” means a capital spending plan under section 122 above.
2
References in this Chapter to credit arrangements, or to entering into credit arrangements, shall be construed in accordance with F6Chapter 1 of Part 1 of the Local Government Act 2003 (see section 7 of that Act).