The Local Government Reorganisation (Capital Money) (Greater London) Order 1987

Administrative arrangements—notifications

7.—(1) Subject to paragraph (2), on or before 30th June and on or before 31st December in each financial year beginning with the financial year commencing 1st April 1986 the Residuary Body shall notify each rating authority of its estimate and revised estimate, respectively, of—

(a) the amounts of capital money to be received in the current and next succeeding financial years;

(b) the amounts to be paid to that authority in those years in accordance with this order;

(c) the amounts which, in accordance with article 4(1), are to be treated as included in the authority’s net capital receipts for those years; and

(d) the classes of disposals and repayments to which the amounts referred to in subparagraph (c) relate.

(2) Paragraph (1) shall apply to the financial year ending 31st March 1987 with the omission of any reference to 30th June and revised estimates and with the substitution of 28th February for 31st December.

(3) On or before 28th February 1987 the Residuary Body shall notify each rating authority and the Inner London Education Authority of its estimate of the amount which, in accordance with article 4(2) and (3), respectively, is to be treated as included in the authority’s net capital receipts and of the classes of disposals and repayments to which that amount relates.

(4) On or before 30th June in each financial year commencing with the financial year beginning 1st April 1987, the Residuary Body shall notify each rating authority of the amount determined for the preceding financial year in accordance with article 4(1) for that authority and on or before 30th June 1987 that Body shall notify each rating authority and the Inner London Education Authority of the amount determined in its case for the preceding financial year in accordance with article 4(2) and (3), respectively, together with an indication of the classes of disposals and repayments to which that amount relates.

(5) At the same time as it notifies an authority of any of the matters referred to in paragraphs (1), (3) and (4) the Residuary Body shall send a copy of such notification to the Secretary of State.

(6) For the purposes of paragraphs (1), (3) and (4), disposals and repayments shall be classified in accordance with Schedule 1 to the Local Government (Prescribed Expenditure) Regulations 1983(1),

(1)

S.I. 1983/296; Schedule 1 was substituted by S.I. 1985/257.