# The London Government Reorganisation (Hampstead Heath) Order 1989, Article 6: Financial arrangements


(1) Immediately before the transfer date the Residuary Body shall set aside from the reserved amount of their direct capital receipts the sum of £19.067 millions.
(2) On the transfer date, the Residuary Body shall pay that sum to the City; and the City shall credit –
(a) the sum of £15 millions to the Hampstead Heath Trust Fund (“the Trust Fund”) which, subject to article 7, shall be applied for defraying expenditure on the management and maintenance of the Heath lands; and
(b) the sum of £4.067 millions to the Hampstead Heath Works Fund which shall be applied for defraying expenditure on work of any of the descriptions specified in Schedule 1 on, or in connection with, the Heath lands.
(3) For the purposes of this article –
(a) “direct capital receipts” has the same meaning as in article 2(1) of the Local Government Reorganisation (Capital Money) (Greater London) Order 1988; and
(b) “the reserved amount” means the sum of £70 millions referred to at the end of the definition of “R” in paragraph 2 of Schedule 3 to that Order.

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Source: https://www.legislation.gov.uk/uksi/1989/304/article/6 (the official version)
Page: https://openlegislation.uk/london-government-reorganisation-hampstead-heath-order-1989/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.