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Local Government Act 1992
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4(1)In subsection (1) of section 16 of the 1980 Act (obligation to secure that revenue from certain work shows such positive rate of return as the Secretary of State may direct), for the words from “their revenue” to the end of the subsection there shall be substituted the words “such financial objective as the Secretary of State may specify for that year is met by their revenue (as adjusted in such manner as he may so specify) for all the work of that description which is carried out in that year.”
(2)After that subsection there shall be inserted the following subsection—
“(1A)Where the Secretary of State specifies a financial objective under this section, he may define that objective by reference to such factors as he thinks fit.”
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