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Article 4 Land situated in more than one area

Original text. Later amendments are not shown.

Where in respect of any mortgage to which article 2 applies the mortgaged land is situated in the areas of more than one relevant council—

(a)

the rights, liabilities and records in respect of the mortgage shall vest in those councils jointly on such terms, and

(b)

any amount falling by virtue of article 3 to be treated as prescribed expenditure shall be so treated in respect of each council in such proportion,

as may be agreed between those councils or, failing such agreement, determined by a person so agreed on, or appointed in default of agreement by the Secretary of State; and the sum payable by virtue of article 2(3) shall be recoverable by the London Residuary Body from those councils jointly or severally.