SCHEDULES

SCHEDULE 6Amendments of financial provisions relating to schemes

Part 2Amendments of Schedule 23 to the Greater London Authority Act 1999

Application of net proceeds

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(1)

Paragraph 16 is amended as follows.

(2)

In sub-paragraph (1)—

(a)

omit “which comes into force during the period of ten years beginning with the inception of the Authority”;

(b)

omit “during the scheme's initial period”.

(3)

After sub-paragraph (1) insert—

“(1A)

Sub-paragraph (1) above is subject to paragraph 18(1A) and (1B) below.”.

(4)

Omit sub-paragraphs (2) to (4).

(5)

In sub-paragraph (6) for “(1) to (5)” substitute “(1) and (5)”.

(6)

Omit sub-paragraph (7).

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In paragraph 17, omit sub-paragraphs (1), (2) and (6).