{
  "url": "https://openlegislation.uk/london-government-reorganisation-mortgages-order-1988/article-7",
  "json_url": "https://openlegislation.uk/london-government-reorganisation-mortgages-order-1988/article-7.json",
  "legislation": "uksi/1988/1747",
  "legislation_title": "The London Government Reorganisation (Mortgages) Order 1988",
  "legislation_url": "https://openlegislation.uk/london-government-reorganisation-mortgages-order-1988",
  "path": "article/7",
  "kind": "article",
  "number": "7",
  "heading": "Consequential financial provisions",
  "text": "(1) In each financial year beginning with the financial year commencing 1st April 1988 Richmond shall pay to each of the other local housing authorities in London an amount which shall be ascertained in accordance with Schedule 1 to this Order, and shall retain the balance of the aggregate of the appropriate capital and appropriate revenue sums as defined in that Schedule.\n(2) Richmond shall use its best endeavours to secure that payments required by paragraph (1) are made on or before the last day of the financial year in question; and any part of a payment not so made (“the residual amount”) shall be paid no later than 30th June in the next financial year.\n(3) Residual amounts shall be deemed to vest in the authority entitled to them on the last day of the financial year in question and shall thereafter be regarded as interest-free loans to Richmond.\n(4) Richmond shall be entitled to recover from each of the other housing authorities in London any amount ascertained in accordance with paragraph 4 of Schedule 1.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/1747/article/7",
    "retrieved_at": "2026-10-29T15:56:49.123972+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}