PART 8London

CHAPTER 2Mayoral development corporations

Establishment and areas

200Transfers of property etc to a Mayoral development corporation

1

The Secretary of State may at any time make a scheme transferring to an MDC property, rights and liabilities of a person within subsection (3).

2

Before making a scheme under subsection (1), the Secretary of State must consult—

a

the person whose property, rights or liabilities would be transferred, and

b

the Mayor.

3

A person is within this subsection if the person is—

a

a London borough council,

b

the Common Council of the City of London in its capacity as a local authority,

c

the Homes and Communities Agency,

d

a development corporation established under the New Towns Act 1981 for a new town all or part of whose area is in Greater London,

e

an urban development corporation for an urban development area all or part of which is in Greater London,

f

the Olympic Delivery Authority,

g

any company, or other body corporate, which is a wholly-owned subsidiary of the Olympic Delivery Authority,

h

any company, or other body corporate, which—

i

is a subsidiary of the Olympic Delivery Authority, and

ii

is a subsidiary of at least one other public authority, and

iii

is not a subsidiary of any person who is not a public authority,

i

a Minister of the Crown or a government department,

j

any company all the shares in which are held by a Minister of the Crown, or

k

any company whose members—

i

include the Mayor and a Minister of the Crown, and

ii

do not include anyone who is neither the Mayor nor a Minister of the Crown.

4

The Mayor may at any time make a scheme transferring to an MDC property, rights and liabilities of—

a

the Greater London Authority,

b

a functional body other than that MDC, or

c

a company that is a subsidiary of the Greater London Authority.

5

The Mayor must publish a scheme under subsection (4) as soon after it is made as is reasonably practicable.

6

The Secretary of State may by order specify another person, or a description of other persons, from whom property, rights or liabilities may be transferred under subsection (1) or (4).

7

In subsection (3)(g) “wholly-owned subsidiary” has the meaning given by section 1159 of the Companies Act 2006.

8

For the purposes of subsection (3)(h) and paragraph (b) of this subsection, a body corporate (“C”) is a “subsidiary” of another person (“P”) if—

a

P, or P's nominee, is a member of C, or

b

C is a subsidiary of a body corporate that is itself a subsidiary of P.

9

In subsection (4)(c)—

  • “company” means—

    1. a

      a company within the meaning given by section 1(1) of the Companies Act 2006, or

    2. b

      a society registered or deemed to be registered under the Co-operative and Community Benefit Societies and Credit Unions Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969, and

  • “subsidiary” has the meaning given by section 1159 of the Companies Act 2006.

10

In this section—

  • “functional body” has the meaning given by section 424(1) of the Greater London Authority Act 1999;

  • “Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975;

  • “public authority” means a public body or a Minister of the Crown or other holder of a public office;

  • “urban development corporation” means a corporation established by an order under section 135 of the Local Government, Planning and Land Act 1980.