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PART 2 N.I.LOCAL GOVERNMENT REORGANISATION

CHAPTER 2N.I.CONTROL OF DISPOSALS AND CONTRACTS OF EXISTING COUNCILS[F1AND THEIR FINANCES]

Consideration to be taken into account for purposes of directionN.I.

12—(1) In determining whether the limit specified by virtue of section 10(1)(a) is exceeded in the case of a disposal of land by an existing council, the consideration with respect to any other disposal of land made by the council after a specified date is to be taken into account.

(2) In determining whether the limit specified by virtue of section 10(1)(b) or (c) is exceeded in the case of a contract entered into by an existing council (“the contract in question”), the consideration payable by the council under any other relevant contract shall be taken into account.

(3) For the purposes of subsection (2) a “relevant contract” means a contract which is either or both—

(a)a contract entered into after a specified date by the council and the person with whom the contract in question is entered into;

(b)a contract entered into after that date by the council which relates to the same or a similar description of matter as that to which the contract in question relates.