SCHEDULES

SCHEDULE 24 Workplace parking levy

Accounts and funds

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1

A licensing authority shall keep an account F1relating to each of the authority’s licensing schemes.

2

Each of the following bodies, namely—

a

the Authority,

b

Transport for London, and

c

a London borough council,

shall keep an account F1relating to the sums received by the body which represent net proceeds of licensing schemes for which the body is not the licensing authority.

3

F2Each of the bodies required to keep an account under sub-paragraph (1) or (2) above shall prepare a statement of that account for F2each financial year.

4

A statement of account required to be prepared under sub-paragraph (3) above for any financial year shall be published—

a

in the case of a statement of account prepared by Transport for London, in the annual report of Transport for London under section 161 of this Act for that year;

b

in any other case, in the annual accounts for that year of the body which prepared the statement of account.

F34A

Regulations may make further provision relating to—

a

accounts required to be kept under sub-paragraph (1) or (2) above (including provision requiring or allowing the keeping of consolidated accounts relating to more than one licensing scheme); and

b

the preparation and publication of statements of such accounts.

5

At the end of each financial year—

a

any deficit in an account required to be kept under sub-paragraph (1) or (2) above shall be made good out of the body’s general fund; and

b

any surplus in any such account F4(after the application of any of the net proceeds in accordance with the following provisions)shall be dealt with in accordance with sub-paragraphs (6) and (7) below.

6

Any such surplus shall be applied towards making good to the general fund any amount charged to that fund under sub-paragraph (5)(a) above in respect of the account in question in the ten years immediately preceding the financial year in question.

7

So much of any surplus as remains after the application of sub-paragraph (6) above shall be carried forward in the account in question to the next financial year.

8

In the application of this paragraph in relation to Transport for London, any reference to its general fund shall be taken as a reference to its gross income.