(1)The Greater London Authority may do anything—
(a)for the purpose of complying with an obligation of the Mayor of London under the Host City Contract (whether before, during or after the London Olympics),
(b)for a purpose connected with preparing for or managing the London Olympics, or
(c)for a purpose connected with anything done in accordance with paragraph (a) or (b).
(2)In particular, the Greater London Authority may—
(a)arrange for the construction, improvement or adaptation of premises or facilities of any description;
(b)arrange for the provision of services of any description;
(c)undertake works of any description;
(d)acquire land or other property;
(e)enter into agreements;
(f)act jointly or cooperate with any person (whether or not having functions under the Host City Contract);
(g)give financial or other assistance to persons in respect of activity connected with the London Olympics (whether or not the activity is undertaken in pursuance of an agreement with the Authority);
(h)take action in respect of places outside London.
(3)In exercising the function under subsection (1) the Authority shall have regard to the desirability of consulting and cooperating with—
(a)the Secretary of State,
(b)the British Olympic Association,
(c)the London Organising Committee, and
(d)other persons with experience or knowledge which might be useful in relation to preparing for or managing the London Olympics.
(4)In exercising the function under subsection (1) the Authority shall have regard to the desirability of maximising the benefits to be derived after the London Olympics from things done in preparation for them.
(5)In so far as section 38 of the Greater London Authority Act 1999 (c. 29) (delegation) permits the delegation of a function under this section to the London Development Agency, section 38(7) of that Act shall not have the effect of disapplying section 5(2) and (3) of the Regional Development Agencies Act 1998 (c. 45) (requirement for Secretary of State’s consent for certain activities; and limitations in respect of the provision of housing).