# London Local Authorities and Transport for London Act 2003, Paragraph 1


Transport for London and each borough council shall keep accounts of their income and expenditure in respect of—
(a) section 4 (Penalty charges for road traffic contraventions) of this Act; and
(b) the administration and enforcement of sections 8 to 11 (Fixed penalties) of this Act in relation to each of the enactments listed in Schedule 4 to this Act,
and (except where otherwise provided) the following provisions of this Schedule shall have effect with respect to each of those accounts.

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Source: https://www.legislation.gov.uk/ukla/2003/3/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/london-local-authorities-and-transport-for-london-act-2003/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.