The Local Government Reorganisation (Capital Money) (Greater London) Order 1988

PART I

Citation and commencement

1.  This Order may be cited as the Local Government Reorganisation (Capital Money) (Greater London) Order 1988 and shall come into force on 1st April 1988. Interpretation

2.—(1) In this Order—

“the abolished council” means the Greater London Council;

“the 1980 Act” means the Local Government, Planning and Land Act 1980(1);

“the 1985 Act” means the Local Government Act 1985;

“the 1987 Order” means the Local Government Reorganisation (Capital Money) (Greater London) Order 1987(2);

“the closing accounts” means the accounts of the abolished council for the financial year ended 31st March 1986;

“compensation payments” means any payment made under Part VI of the Employment Protection (Consolidation) Act 1978(3), by section 1 of the Pensions (Increase) Act 1971(4) or by any order under section 2 of that Act or section 59 of the Social Security Pensions Act 1975(5), the Local Government Reorganisation (Compensation) Regulations 1986(6) or the Local Government Reorganisation (Reduction of Redundancy Payments Cases) Scheme 1986(7) or made in satisfaction of contractual rights saved by section 53 of the 1985 Act, but excluding any part of any such payment which is recoverable from any person other than the recipient; and includes such administrative expenses of the Residuary Body as are properly attributable to such payments;

“County Hall” means the buildings previously owned by the abolished council and known as the Main Building, the North Block, the South Block, the Island Block and the Addington Street Annexe, all ancillary service areas and car parks and the bridge which links the Island and South Blocks;

“direct capital receipts” means such of the money described in paragraph (2)(a) below as remains after the deduction of any amount payable by the Residuary Body to the Exchequer or to the European Commission by virtue of the relevant land, other property, grant or advance having been financed either in whole or in part by grants from the Exchequer or the Commission;

“disposal” means disposal by operation of law or otherwise;

“housing advances” means sums advanced by the abolished council by way of loan for the purchase, construction, repair or improvement of dwellings;

“housing assets” means relevant land held by the abolished council for the purposes of section 92 of the Housing Act 1957(8);

“housing receipts” means those direct capital receipts which are attributable to the disposal of housing assets or the repayment of housing advances and grants for the purchase, construction, repair or improvement of dwellings;

“other property” means any vehicle, vessel, movable and immovable plant, machinery and apparatus;

“relevant land” means any land other than—

(a)

land held as an investment of a superannuation fund maintained under regulations made under section 7 of the Superannuation Act 1972(9); and

(b)

land in respect of which the Residuary Body is the mortgagee;

“residual balances” means the money described in paragraph (2)(b) below;

“the rating authorities” means the rating authorities in Greater London other than the Temples;

“the Residuary Body” means the London Residuary Body.

(2) For the purposes of section 77 of the 1985 Act and this Order, except article 8, “capital money” means—

(a) money received by the Residuary Body—

(i) which is attributable to the disposal of relevant land or other property by that Body; or

(ii) which is attributable to amounts left outstanding in accordance with section 9 of the Housing Act 1980(10) in connection with the disposal of housing assets by the abolished council; or

(iii) by way of repayments of grants and advances of a capital nature;

(b) such amount of the money vested in the Residuary Body on the abolition date by virtue of section 62 of the 1985 Act as equals the aggregate of the amounts shown in the closing accounts as the abolished council’s revenue balances and funds, as adjusted to give effect to matters relevant to that aggregate which are recorded, in accordance with directions given by the Secretary of State under section 78 of that Act, in the accounts of that Body for the financial year ended 31st March 1987, less the aggregate of—

(i) the part of that amount distributed by that Body before 1st April 1988 by virtue of section 77(4) of the 1985 Act or in accordance with the 1987 Order, or otherwise applied by that Body before that date;

(ii) the part of that amount which is equal to the amount shown in the accounts of the Residuary Body for the financial year ended 31st March 1987 as attributable to the value of assets which vested on the abolition date in any person other than that Body; and

(iii) the amount referred to in subparagraph (c); and

(c) such amount of the money vested as mentioned in subparagraph (b) as equals the amount shown in the closing accounts as attributable to the Crystal Palace Fund maintained by the abolished council.

(3) Where the amount vested as mentioned in paragraph (2)(b) is less than the aggregate of the amounts shown as revenue balances and funds in the closing accounts, the Residuary Body shall be deemed for the purposes of this Order to have had vested in it under section 62 such additional sums as makes that amount equal to that aggregate.

(1)

1980 c. 65.

(2)

S.I. 1987/118.

(3)

1978 c. 44.

(4)

1971 c. 56; section 2 was repealed by section 65(3) of the Social Security Pensions Act 1975 but without prejudice to any existing Order made under section 2.

(5)

1975 c. 60.

(6)

S.I. 1986/151.

(7)

Made under section 59(3) of the Local Government Act 1985.

(8)

1957 c. 56; the abolished council was a housing authority for the purposes of section 92 by virtue of section 21(4) of the London Government Act 1963 (c. 33).

(9)

1972 c. 11.

(10)

1980 c. 51.