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Part IIIFinancial Provisions

Chapter IVRevenue Accounts and Capital Finance

Supplementary provisions

124Admissible 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

(b)the amounts to be allocated to the body out of the category C and D amounts specified in the aggregate credit approval for the year.

(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;

(b)the amount met out of the usable part of the body’s capital receipts;

(c)the amount met by using the aggregate credit approval or any additional credit approvals;

(d)the amount met by making a charge to a revenue account.

125Information

(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) in one or both of the following ways—

(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; and

(b)under arrangements made by the Audit Commission for Local Authorities and the National Health Service in England and Wales.

(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.

126Interpretation of Chapter IV

(1)In this Chapter, unless the context otherwise requires—

(2)References in this Chapter to credit arrangements, or to entering into credit arrangements, shall be construed in accordance with Part IV of the [1989 c. 42.] Local Government and Housing Act 1989 (see section 48 of that Act).