Additional distribution of capital money
9.—(1) An amount of the revenue balances vested in the LRB pursuant to the 1988 Act equal to £187,139 is hereby specified as capital money for the purposes of section 77 of the Local Government Act 1985.
(2) On 27th February 1991 the LRB shall set aside from its revenue balances the sum of £187,139.
(3) On 28th February 1991 the LRB shall pay that sum, divided into the following amounts, for the following purposes connected with the abolition of ILEA—
(a)£120,179 to the City of London Polytechnic representing fees received by ILEA in respect of courses to be held during the 1990 summer term at the former London College of Furniture which courses were provided by the said Polytechnic; and
(b)£66,960 to the Polytechnic of Central London representing fees received by ILEA in respect of courses to be held during the 1990 summer term at the former Paddington College of Further Education which courses were provided by the said Polytechnic.