Regulation 3 Borrowing in relation to Mayoral CIL

In regulation 60 (reimbursement of expenditure incurred and repayment of loans)—

(a)

in paragraph (3), at the beginning, insert “Subject to paragraph (7A),”;

(b)

after paragraph (7) insert—

“(7A)
Until 31st March 2033, where the Greater London Authority or Transport for London^f1 has borrowed money for the purposes of, or in connection with, the provision of the scheduled works within the meaning of Schedule 1 to the Crossrail Act 2008^f2, the Mayor may apply CIL to repay that money and any interest.”.

Annotations

Footnotes

f1: The Greater London Authority and Transport for London were established by sections 1(1) and 154(1) respectively of the Greater London Authority Act 1999 (c.29).
f2: 2008 c.18.