The area listed in Schedule 1 is designated for the purposes of these Regulations.

The designation made by paragraph (1) takes effect on the first day of the first year after the condition specified in paragraph (3) is met and has effect for the period of 25 years beginning with that date.

The condition specified by this paragraph is that the Secretary of State is satisfied that arrangements are in place for the amount to be disregarded by virtue of these Regulations to be used by the Tees Valley Combined Authority and Redcar and Cleveland Borough Council for the benefit of the designated area.

These Regulations cease to have effect unless the Secretary of State has written to the Tees Valley Combined Authority and Redcar and Cleveland Borough Council confirming the condition in paragraph (3) is met by the end of the specified period.

In paragraph (4) the “specified period” is the period beginning on the day these Regulations come into force and ending on 31st March 2021.