Part IV

Transport
Chapter II

Transport for London

Financial provisions

Financial assistance.
159
1
Transport for London may give financial assistance to any body or person in respect of expenditure incurred or to be incurred by that body or person in doing anything which in the opinion of Transport for London is conducive to the provision of safe, integrated, efficient and economic transport facilities or services to, from or within Greater London.
2
Financial assistance may be given under this section by way of grant, loan or other payment.
3
The financial assistance that may be given to any London authority under this section includes in particular assistance in respect of any expenditure incurred or to be incurred by the authority in discharging any function of a highway authority or traffic authority.
4
In deciding whether to give financial assistance to a London authority under this section, and if so the amount or nature of any such assistance, the matters to which Transport for London may have regard include—
a
any financial assistance or financial authorisation previously given to the authority by any body or person, and
b
the use made by the authority of such assistance or authorisation.
5
In subsection (4) above, financial authorisation means authorisation allowing the authority to incur financial obligations.
6
Financial assistance under this section may be given subject to such conditions as Transport for London considers appropriate, including (in the case of a grant) conditions for repayment in whole or in part in specified circumstances.
7
In this section—
- highway authority has the same meaning as in the Highways Act 1980 (see in particular sections 1 to 9 of that Act);
- London authority means any London borough council or the Common Council; and
- traffic authority has the same meaning as in the Road Traffic Regulation Act 1984 (see sections 121A and 142(1) of that Act).
8
In section 88(2) of the Local Government Finance Act 1988 (list of defined councils to which transport grants are payable by the Secretary of State under section 87 of that Act)—
a
at the end of paragraph (aa) there shall be inserted “ and ”; and
b
paragraphs (c) and (d) (which include in the list of defined councils the London borough councils and the Common Council) shall cease to have effect.
9
This section is without prejudice to any other power of Transport for London.
1980 c. 66.
1984 c. 27.
1988 c. 41.