Paragraph 77 I1

(1)

Section 124 (admissible factors in preparing capital spending plan etc.) is amended as follows.

(2)

In subsection (2), for paragraph (b) there is substituted—

“(b)

the amounts to be transferred to the body under section 32(5) of the Local Government Act 2003 (Mayor’s power to transfer expenditure grant);”.

(3)

In subsection (4)—

(a)

after paragraph (a) there is inserted—

“(aa)

the amount met out of grants under section 31 of the Local Government Act 2003 (expenditure grant) made to the body;”, and

(b)

for paragraph (c) there is substituted—

“(c)

the amount met by borrowing or entering into or varying credit arrangements;”.

Annotations

I1: Sch. 7 para. 77 in force at 1.1.2004 by S.I. 2003/2938, art. 4(d)(i) (with art. 8, Sch.)