124Approval of scheme under section 123
(1)Before submitting a scheme under section 123 above to the Secretary of State for his approval the Authority shall, in such manner as it considers appropriate for bringing it to the attention of persons likely to be affected by the scheme, publish a notice—
(a)setting out its proposals; and
(b)specifying the period within which representations or objections with respect to the proposals may be made to the Secretary of State.
(2)Where any proposed scheme under section 123 above has been submitted to the Secretary of State for his approval, it shall be the duty of the Secretary of State, in determining whether or not to approve the scheme or to approve it subject to modifications—
(a)to consider any representations or objections duly made to him and not withdrawn; and
(b)to have regard to the matters specified in subsection (3) below.
(3)The matters mentioned in subsection (2) above are—
(a)the desirability of ensuring that the amounts recovered by the Authority by way of charges fixed by or under schemes under section 123 above are the amounts which, taking one year with another, are required by the Authority for recovering such amounts as the Secretary of State may consider it appropriate to attribute to the expenses incurred by the Authority in carrying out its functions under Part II of this Act; and
(b)the need to ensure that no undue preference is shown, and that there is no undue discrimination, in the fixing of charges by or under any scheme under that section.
(4)For the purposes of subsection (3)(a) above—
(a)the Secretary of State shall take into account any determinations under section 117 above in determining the amounts which he considers it appropriate to attribute to the expenses incurred by the Authority in carrying out its functions under Part II of this Act; and
(b)those amounts may include amounts in respect of the depreciation of, and the provision of a return on, such of the Authority’s assets as are held by it for purposes connected with the carrying out of those functions.
(5)The consent of the Treasury shall be required for the giving of an approval to a scheme under section 123 above.