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Greater London Authority Act 1999

Type Public General Act

Publication 1999-11-11

Last updated 2026-08-05

State In force

Department Statute Law Database

Source legislation.gov.uk

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(1) Where the Authority receives any grant or other payment made only for the purposes, or particular purposes, of a functional body, the Authority shall forthwith account for the grant or other payment to the functional body concerned and pay it over to that body.

(2) Subsection (1) above does not apply in relation to any sum received in respect of an item which falls within any of the paragraphs of subsection (2) of section 102 above.

Chapter III — Emergency Financial Assistance, Funds and Miscellaneous Matters

Emergency financial assistance.

104

(1) Section 155 of the Local Government and Housing Act 1989 (emergency financial assistance to local authorities) shall be amended as follows.

(2) After subsection (1) (local authority incurring expenditure as result of emergency or disaster) there shall be inserted—

(1A) Expenditure incurred as mentioned in subsection (1) above by— (a) the London Fire and Emergency Planning Authority, (b) the Metropolitan Police Authority, or (c) Transport for London, in respect of places or areas within Greater London, shall be treated for the purposes of this section as expenditure so incurred by the Greater London Authority (and, accordingly, as so incurred by a local authority). (1B) To the extent that any financial assistance given to the Greater London Authority under this section is referable to expenditure incurred by a body mentioned in paragraph (a), (b) or (c) of subsection (1A) above, the financial assistance shall be treated for the purposes of section 103 of the Greater London Authority Act 1999 as a payment made to the Greater London Authority for the purposes of that body.

(3) In subsection (4) (local authorities in England and Wales to which the section applies)—

(a) after paragraph (b) there shall be inserted—

(bb) the Greater London Authority;

(b) at the end of paragraph (eb) there shall be inserted “ or ”; and

Component budgets: anticipation of certain levies.

105

(1) Section 74 of the Local Government Finance Act 1988 (levies) shall be amended as follows.

(2) In subsection (4) (which enables regulations to include provision permitting anticipation of levies under the section in the making of certain calculations) after paragraph (b) there shall be inserted—

(bb) that the Greater London Authority in making calculations in accordance with sections 85 and 86 of the Greater London Authority Act 1999 (originally or by way of substitute) in the case of any constituent body (within the meaning of those sections), except the Metropolitan Police Authority (for which separate provision is made), may anticipate a levy;

The Authority’s general fund.

106

(1) Section 91 of the Local Government Finance Act 1988 (general funds) shall be amended as follows.

(2) In subsection (1) (which specifies the relevant authorities) after paragraph (aa) there shall be inserted—

(ab) the Greater London Authority,

(3) In subsection (3) (general fund to be established on 1 April 1990, subject to subsection (3A)) for subsection (3A) there shall be substituted “ subsections (3A) and (3C) ”.

(4) After subsection (3B) there shall be inserted—

(3C) In the case of the Greater London Authority, the general fund must be established on a date specified in regulations.

(5) In section 143 of the Local Government Finance Act 1988 (regulations and orders) in subsection (5) (exceptions from Parliamentary procedure) after regulations under section 75 there shall be inserted “ , 91(3C) ”.

Judicial review.

107

(1) Section 66 of the Local Government Finance Act 1992 (matters which are not to be questioned except on judicial review) shall be amended as follows.

(2) In subsection (2) (which specifies the matters) after paragraph (c) there shall be inserted—

(cc) a calculation made in accordance with any of sections 85 to 90 of the Greater London Authority Act 1999; (cd) a substitute calculation made in accordance with any of sections 85, 86 and 88 to 90 of, and Schedule 7 to, that Act;

Functions to be discharged only by certain authorities.

108

(1) Section 67 of the Local Government Finance Act 1992 (functions to be discharged only by the authority) shall be amended as follows.

(2) In subsection (1) (functions to be discharged only by authority, subject to subsection (3)) for subsection (3) there shall be substituted “subsections (3) and (3A)”.

(3) In subsection (2) (which specifies the functions) after paragraph (b) there shall be inserted—

(bb) making a calculation in accordance with any of sections 85 to 90 of the Greater London Authority Act 1999; (bc) making a substitute calculation in accordance with any of sections 85, 86 and 88 to 90 of, and Schedule 7 to, that Act;

(4) In subsection (3) (functions which may be exercised by a committee) at the beginning there shall be inserted “ Subject to subsection (3B) below, ”.

(5) After subsection (3) there shall be inserted—

(3A) In the case of the Greater London Authority, the functions mentioned in subsection (2) above shall be discharged on behalf of the Authority in accordance with the provisions of the Greater London Authority Act 1999 but only by the Mayor of London, the London Assembly or the Mayor and Assembly acting jointly. (3B) Subsection (3) above does not apply in relation to the Greater London Authority, but where Schedule 6 to the Greater London Authority Act 1999 makes provision enabling a function to be discharged by a committee or other representatives of the London Assembly, the function may be discharged by such a committee or representatives in accordance with the provisions of that Schedule.

Information.

109

(1) In section 168 of the Local Government Act 1972 (local financial returns) in subsection (5) (which defines local authority for the purposes of the section) the word and at the end of paragraph (b) shall be omitted and after paragraph (c) there shall be added

; and (d) a functional body, within the meaning of the Greater London Authority Act 1999.

(2) In section 139A of the Local Government Finance Act 1988 (information) in subsection (5) (which defines the relevant authorities) after paragraph (b) there shall be inserted—

(c) a functional body, within the meaning of the Greater London Authority Act 1999.

(3) Section 68 of the Local Government Finance Act 1992 (information required for purposes of Part I of that Act by Secretary of State from relevant authority or relevant officer) shall be amended as follows.

(4) In subsection (1)(b), after this Part there shall be inserted “ or Part III of the Greater London Authority Act 1999 ”.

(5) In subsection (3) (failure of authority or officer to comply) after this Part there shall be inserted “ or Part III of the Greater London Authority Act 1999 ”.

(6) In subsection (5), in the definition of relevant authority after means there shall be inserted “ (a) ” and after precepting authority; there shall be inserted

or (b) a functional body, within the meaning of the Greater London Authority Act 1999) (see section 424(1) of that Act);

Provision of information by functional bodies to Mayor or Assembly.

110

(1) A functional body shall, at the request of the Mayor or the Assembly, provide the Authority with such information relating to the financial affairs of the body as may be specified or described in the request.

(2) The information shall be provided in such form and manner, and within such time, as may be specified in the request.

(3) The information that may be requested under subsection (1) above is such information as may be required for the purpose of any functions exercisable by the Mayor or the Assembly.

(4) The information that may be requested under subsection (1) above from a functional body includes—

(a) information which the body has or can reasonably obtain; and

(b) information about the body’s plans or proposals relating to the finances or expenditure of the body or of any company in which the body has an interest.

Chapter IV — Revenue Accounts and Capital Finance

Application of Part IV of Local Government and Housing Act 1989

Part IV of 1989 Act to apply to Authority and functional bodies.

111

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Credit approvals

Provisions to be in place of sections 53 to 55 of 1989 Act.

112

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Aggregate credit approval for Authority and functional bodies.

113

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Additional credit approval.

114

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Notification of category C or D allocations.

115

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Amortisation.

116

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Criteria for issuing credit approvals.

117

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Part IV of 1989 Act and credit approvals under this Chapter.

118

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Capital receipts and mutual grants

Power to redistribute capital receipts of functional bodies.

119

(1) The Secretary of State may make regulations for and in connection with conferring on the Mayor power to direct any functional body to pay to the Authority such percentage as may be specified in the direction of so much of ... the body’s capital receipts as may be so specified.

(2) The power conferred on the Mayor must be exercisable only for the purpose of enabling the amount paid under such a direction (the relevant amount) to be applied towards meeting capital expenditure of another functional body or of the Authority (the assisted body).

(3) The provision that may be made by regulations under subsection (1) above includes provision—

(a) with respect to the percentage or maximum percentage that may be specified in a direction;

(b) with respect to the portion of ... a functional body’s capital receipts in respect of which a direction may be issued;

(d) requiring the Mayor, within such time or in such manner as may be prescribed, to notify the functional bodies of decisions taken with respect to the exercise of powers conferred by the regulations;

(e) for and in connection with enabling the Mayor to permit the relevant amount to be applied towards meeting capital expenditure of the assisted body generally or to require it to be applied towards meeting only such expenditure of a particular description;

(f) for and in connection with treating the whole or a prescribed part of the relevant amount as added to the capital receipts of the assisted body, for the purposes of Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance);

(g) for and in connection with requiring an assisted body to apply the relevant amount only for the purposes for which it was paid to the body.

(4) In this section prescribed means prescribed by regulations.

Capital grants between Authority and functional bodies.

120

(1) The Authority may pay grants towards meeting capital expenditure incurred or to be incurred by a functional body for the purposes of, or in connection with, the discharge of the functions of that body.

(2) A functional body may, with the consent of the Mayor, pay a grant towards meeting capital expenditure incurred or to be incurred by another functional body, or by the Authority, for the purposes of, or in connection with, the discharge of the functions of the body to which the grant is made.

(3) A grant under this section must not be made subject to any limitation in respect of the capital expenditure which it may be applied towards meeting.

(4) A grant under this section must be applied by the recipient body solely towards meeting capital expenditure incurred or to be incurred by that body for the purposes of, or in connection with, the discharge of its functions.

Revenue grants between Authority and functional bodies.

121

(1) The Authority may pay grants towards meeting expenditure, other than capital expenditure, incurred or to be incurred by a functional body for the purposes of, or in connection with, the discharge of the functions of that body.

(2) A functional body may, with the consent of the Mayor, pay a grant towards meeting expenditure, other than capital expenditure, incurred or to be incurred by another functional body, or by the Authority, for the purposes of, or in connection with, the discharge of the functions of the body to which the grant is made.

(3) A grant under this section must not be made subject to any limitation in respect of the expenditure which it may be applied towards meeting (other than that the expenditure must not be capital expenditure).

(4) A grant under this section must be applied by the recipient body solely towards meeting expenditure incurred or to be incurred by that body for the purposes of, or in connection with, the discharge of its functions, other than capital expenditure.

The Mayor’s capital spending plan

Form and contents.

122

(1) The Mayor shall, in accordance with the following provisions of this section and sections 123 and 124 below, prepare for each financial year a capital spending plan for the functional bodies.

(2) A capital spending plan shall consist of the sections described in subsections (3) to (6) below.

(3) Section A of a capital spending plan shall consist of a statement for each functional body of the Mayor’s estimates of the following amounts—

(a) the total amount of capital grants likely to be paid to the body during the year by any person other than the Authority;

(b) the amount, at the beginning of the year, of ... the body’s capital receipts; and

(c) the amount by which the body’s capital receipts are likely to be increased by capital receipts which it appears to the Mayor the functional body might reasonably be expected to receive, or is likely to receive, during the year.

(4) Section B of a capital spending plan shall consist of a statement for each functional body of the following amounts—

(a) if the Mayor has decided a minimum amount of grant which the Authority is to pay to the body for the year under section 120(1) above, that minimum amount;

(b) the total of the amounts which the Mayor expects the body—

(i) to borrow in the year, or

(ii) to be treated as borrowing in the year because of section 8(2) of the Local Government Act 2003 (under which entry into, or variation of, a credit arrangement is treated as a form of borrowing).

(5) Section C of a capital spending plan shall consist of a statement for each functional body of the total of the following amounts—

(a) the total amount of capital expenditure which the Mayor expects the body to incur during the year; and

(b) the total of the amounts which the Mayor expects the body to be treated as borrowing in the year because of section 8(2) of the Local Government Act 2003;

and in this section the total of those amounts is referred to as the body’s total capital spending for the year.

(6) Section D of a capital spending plan shall consist of an analysis of each functional body’s total capital spending for the year showing—

(a) the amount which the Mayor expects the body to meet out of capital grants;

(b) the amount which he expects the body to meet out of ... its capital receipts;

(d) the amount which he expects the body to meet by making a charge to a revenue account.

Preparation.

123

(1) For each financial year, the Mayor shall prepare a draft of the capital spending plan for the year.

(2) Before 15th January in the financial year preceding that to which the capital spending plan relates, the Mayor shall—

(a) send a copy of the draft to the Assembly and to each functional body; and

(b) invite them to submit their comments on the draft to him in writing within 21 days.

(3) Before finally determining the contents of the capital spending plan, the Mayor shall consider any comments submitted in accordance with the invitation under subsection (2)(b) above and make such revisions of the draft as he thinks fit, having regard to those comments.

(4) Before 28th February in the financial year preceding that to which the capital spending plan relates, the Mayor shall—

(a) send the plan to the Secretary of State; and

(b) send a copy of the plan to the Assembly and to each functional body.

(5) A copy of the capital spending plan shall be kept available for the appropriate period by the Mayor for inspection by any person on request free of charge at the principal offices of the Authority at reasonable hours.

(6) A copy of the capital spending plan, or any part of it, shall be supplied to any person on request during the appropriate period for such reasonable fee as the Mayor may determine.

(7) In this section the appropriate period in the case of a capital spending plan is the period of six years beginning with the date of publication of that plan pursuant to this section.

Supplementary provisions

Admissible factors in preparing capital spending plan etc.

124

(1) In preparing a capital spending plan for any financial year, the Mayor may take account of such factors as appear to him to be appropriate.

(2) The reference in subsection (1) above to preparing a capital spending plan for a financial year includes a reference to deciding, in the case of each of the functional bodies,—

(a) the minimum amount of grant which the Authority is to pay to the body for the year under section 120 above; and

(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) Without prejudice to the generality of subsection (1) above, the Mayor may in particular take account of—

(a) the capital spending plans for such financial years which have ended as he may determine; and

(b) the amounts of each functional body’s total capital spending specified in section C of each of those plans which have been met as described in each of the paragraphs of subsection (4) below.

(4) Those amounts are—

(a) the amount met out of capital grants made to the body;

(b) the amount met out of ... the body’s capital receipts;

(d) the amount met by making a charge to a revenue account.

Information.

125

(1) The Mayor may serve on a functional body a notice requiring the body to supply to him such information as is specified in the notice and required by him for the purpose of deciding whether to exercise his powers, and how to perform his functions, under this Chapter.

(2) If the information specified in a notice under this section is in the possession or under the control of the functional body on which the notice is served, the body shall supply the information required in such form and manner, and at such time, as is specified in the notice and, if the notice so requires, the information shall be certified (according as is specified in the notice) ...—

(a) by the chief finance officer of the body, within the meaning of section 127 below, or by such other person as may be specified in the notice; ...

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) If a functional body fails to comply with subsection (2) above, the Mayor may decide—

(a) whether to exercise his powers, and how to perform his functions, under this Chapter, or

(b) whether the body has acted, or is likely to act, in accordance with this Chapter,

on the basis of such assumptions and estimates as he thinks fit.

(4) In deciding—

(a) whether to exercise his powers, and how to perform his functions, under this Chapter, or

(b) whether a functional body has acted, or is likely to act, in accordance with this Chapter,

the Mayor may also take into account any other information available to him, whatever its source and whether or not obtained under a provision contained in or made under this or any other enactment.

Interpretation of Chapter IV.

126

(1) In this Chapter—

“capital expenditure” and “capital receipt” have the same meaning as in Chapter 1 of Part 1 of the Local Government Act 2003 (capital finance);

“capital spending plan” means a capital spending plan under section 122 above.

(2) References in this Chapter to credit arrangements, or to entering into credit arrangements, shall be construed in accordance with Chapter 1 of Part 1 of the Local Government Act 2003 (see section 7 of that Act).

Chapter V — Financial Administration, Accounts and Audit

Financial administration

Proper financial administration and chief finance officer.

127

(1) In this section relevant authority means—

(a) the Authority; or

(b) a functional body.

(2) Every relevant authority—

(a) shall make arrangements for the proper administration of its financial affairs; and

(b) shall secure that one of its officers (its chief finance officer) has responsibility for the administration of those affairs.

(3) No person may be the chief finance officer of two or more relevant authorities at the same time.

(4) In subsection (2)(b) above, the reference to officers includes a reference to employees or members of staff and, in the case of Transport for London, includes a reference to its members.

(5) Section 127A below makes further provision with respect to the Authority's chief finance officer for the purposes of subsection (2)(b) above.

(6) The function of appointing the Authority’s chief finance officer under subsection (2)(b) above shall be a function of the Authority which is exercisable on behalf of the Authority by the Assembly after consultation with the Mayor.

(7) If the Mayor is a member of Transport for London, he must not be its chief finance officer.

(8) In section 2 of the Local Government and Housing Act 1989 (politically restricted posts) in subsection (6)(d) (the effect of which is that the chief finance officer appointed under certain provisions is included among the chief statutory officers for the purposes of that section) after section 112 of the Local Government Finance Act 1988 there shall be inserted “ , section 127(2) of the Greater London Authority Act 1999 ”.

Chief finance officer of the Authority

127A

(1) The Mayor and the Assembly, acting jointly, shall appoint a person to be the chief finance officer of the Authority.

(2) Any appointment under subsection (1) above is an appointment as an employee of the Authority and—

(a) section 7 of the Local Government and Housing Act 1989 (staff to be appointed on merit) shall apply in relation to any such appointment as if the Authority were a local authority;

(b) section 8 of that Act (duty to adopt standing orders with respect to staff) shall apply in relation to a person appointed under subsection (1) above as if the Authority were a relevant authority.

(3) The terms and conditions of employment of the person appointed under subsection (1) above (including conditions as to remuneration) are to be such as the Mayor and the Assembly acting jointly think fit.

(4) A person must not at the same time be both—

(a) the Authority's chief finance officer appointed under subsection (1) above, and

(b) a member of staff appointed under section 67(1) above.

Application of Part VIII of Local Government Finance Act 1988.

128

(1) Section 111 of the Local Government Finance Act 1988 (interpretation of Part VIII (financial administration)) shall be amended as follows.

(2) In subsection (2) (which specifies the bodies which are relevant authorities for the purposes of Part VIII) after paragraph (b) there shall be inserted—

(bb) the Greater London Authority; (bc) a functional body, within the meaning of the 1999 Act; (bd) the London Pensions Fund Authority;

(3) In subsection (3) (meaning of 1972 Act etc) at the end there shall be added and the 1999 Act is the Greater London Authority Act 1999.

Qualifications of chief finance officer.

129

In section 113(1) of the Local Government Finance Act 1988 (requirements to be fulfilled by person having responsibility for administration of financial affairs under certain provisions) after section 73 of the 1985 Act there shall be inserted “ , section 127 of the 1999 Act ”.

Functions of chief finance officer as regards reports.

130

(1) Section 114 of the Local Government Finance Act 1988 (functions of responsible officer as regards reports) shall be amended as follows.

(2) In subsection (1) (person having responsibility for administration of financial affairs under certain provisions to have functions as regards reports) after section 73 of the 1985 Act there shall be inserted “ , section 127 of the 1999 Act ”.

(3) After subsection (3A) (preparation of report: duty to consult head of paid service and monitoring officer) there shall be inserted—

(3B) Subsection (3A) above shall have effect in relation to the London Development Agency with the substitution for paragraphs (a) and (b) of the words with the person who is for the time being appointed under paragraph 4(2) of Schedule 2 to the Regional Development Agencies Act 1998 as the chief executive of the London Development Agency. (3C) Subsection (3A) above shall have effect in relation to Transport for London with the substitution for paragraphs (a) and (b) of the words with the person who is for the time being designated for the purpose under subsection (3D) below. (3D) Transport for London shall designate a member of Transport for London, or a member of the staff of Transport for London, as the person who is to be consulted under subsection (3A) above.

(4) After subsection (4) (duty to send copy of report to each member of the authority etc) there shall be inserted—

(4A) The duty under subsection (4)(b) above— (a) in a case where the relevant authority is the Greater London Authority, is to send a copy of the report to the Mayor of London and to each member of the London Assembly; and (b) in a case where the relevant authority is a functional body, within the meaning of the 1999 Act, includes a duty to send a copy of the report to the Mayor of London and to the Chair of the Assembly, within the meaning of that Act.

Duties of Authority or functional body as regards reports.

131

(1) Section 115 of the Local Government Finance Act 1988 (authority’s duties as regards reports) shall be amended as follows.

(2) After subsection (1) there shall be inserted—

(1A) Where the report under section 114 above is a report by the chief finance officer of the Greater London Authority, section 115A below shall have effect in place of subsections (2) and (3) below.

(3) After subsection (3) there shall be inserted—

(3A) In the case of the London Development Agency or Transport for London, Part VA of the 1972 Act (access to meetings etc) shall have effect in relation to the meeting as if that authority were a principal council.

(4) After subsection (4) (which prevents delegation under section 101(2) of the Local Government Act 1972) there shall be inserted—

(4A) In the case of the London Development Agency or Transport for London, neither— (a) paragraph 7 of Schedule 2 to the Regional Development Agencies Act 1998 (delegation by London Development Agency etc), nor (b) paragraph 7 of Schedule 10 to the 1999 Act (delegation by Transport for London), shall apply to the duty under subsection (2) above.

(5) After subsection (9) (the prohibition period) there shall be inserted—

(9A) In the application of this section where the report under section 114 above is a report by the chief finance officer of the Greater London Authority, subsection (9) above shall have effect with the substitution for paragraph (b) of— (“) ending with the first business day to fall after the day (if any) on which the Mayor makes the decisions under section 115A(6) below ”.

(6) In subsection (10) (immaterial for subsection (9)(b) that subsection (3) is not complied with) after subsection (3) above there shall be inserted “ , or, where section 115A below applies, subsection (4) or (8) of that section, ”.

(7) In subsection (11) (nature of decisions at meeting immaterial for subsection (9)(b)) after decisions made at the meeting there shall be inserted “ , or, where section 115A below applies, by the Mayor under subsection (6) of that section, ”.

(8) After subsection (12) there shall be added—

(13) In the application of this section in relation to the Greater London Authority, the references to the authority in subsections (5) to (12) above shall be taken as references to the Greater London Authority whether acting by the Mayor, the Assembly or the Mayor and Assembly acting jointly. (14) In this section— - the Assembly means the London Assembly; - the Mayor means the Mayor of London.

(9) After section 115 of the Local Government Finance Act 1988 there shall be inserted—

(115A) (1) This section applies where copies of a report under section 114 above by the chief finance officer of the Greater London Authority have been sent under section 114(4) above. (2) The Mayor shall consider the report preparatory to making the decisions under subsection (6) below. (3) The Assembly shall consider the report at a meeting where it shall decide— (a) whether it agrees or disagrees with the views contained in the report; and (b) what action (if any) it recommends that the Mayor should take in consequence of it. (4) The meeting must be held not later than the end of the period of 21 days beginning with the day on which the copies of the report are sent. (5) The Mayor must attend the meeting. (6) After the meeting, the Mayor shall decide— (a) whether he agrees or disagrees with the views contained in the report; and (b) what action (if any) he proposes to take in consequence of it. (7) In making any decision under subsection (6) above, the Mayor shall take account of any views or recommendations of the Assembly at the meeting. (8) The Mayor must make the decisions under subsection (6) above before the end of the period of 14 days beginning with the day on which the meeting of the Assembly concludes. (9) Any functions of the Mayor under this section must be exercised by the Mayor personally. (10) Section 54 of the 1999 Act (discharge of Assembly functions by committees etc) shall not apply in relation to any function of the Assembly under this section. (11) In this section— - the Assembly means the London Assembly; - the Mayor means the Mayor of London.

Monitoring officer not to be chief finance officer etc.

132

(1) Section 5 of the Local Government and Housing Act 1989 (designation and reports of monitoring officer) shall be amended as follows.

(2) In subsection (8) (interpretation) in the definition of chief finance officerafter Local Government Finance Act 1988 there shall be inserted “ , section 127(2) of the Greater London Authority Act 1999 ”.

Accounts and audit

Application of the Audit Commission Act 1998.

133

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Summary statement of accounts of Authority and other bodies.

134

(1) For each financial year the Authority shall prepare a summary statement of accounts.

(2) The summary statement of accounts shall be in respect of the Authority, the functional bodies and the London Pensions Fund Authority.

(3) Subsection (1) above is without prejudice to any other duty of the Authority, a functional body or the London Pensions Fund Authority to prepare accounts or statements of accounts.

(4) Section 25 of the Local Audit and Accountability Act 2014 (inspection of statements of accounts etc) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to a statement of accounts prepared by the Authority under section 3(3) of that Act.

(5) Sections 26 to 31 of the Local Audit and Accountability Act 2014, and Schedule 8 to that Act (public inspection etc and action by the auditor, and prevention of unlawful expenditure) shall not apply in relation to a summary statement of accounts required to be prepared under this section.

(6) Section 32 of the Local Audit and Accountability Act 2014 (accounts and audit regulations) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to ... statements of accounts.

Information for purposes of section 134.

135

(1) A body to which this section applies shall, at the request of the Mayor, provide the Authority with such information relating to any accounts or statement of accounts of the body as may be specified or described in the request.

(2) The bodies to which this section applies are—

(a) each of the functional bodies; and

(b) the London Pensions Fund Authority.

(3) The information shall be provided in such form and manner, and within such time, as may be specified in the request.

(4) The information that may be requested under subsection (1) above is such information as may be required for the purpose of discharging the functions of the Authority under or by virtue of section 134 above.

Chapter VI — Miscellaneous and Supplementary Provisions

Amendment of cross-references to provisions of Chapter I.

136

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Council tax: no Crown exemption for Authority or functional bodies.

137

(1) Section 19 of the Local Government Finance Act 1992 (exclusion from Crown exemption in certain cases) shall be amended as follows.

(2) In subsection (3) (which specifies the excluded bodies) after paragraph (b) there shall be inserted—

(bb) the Greater London Authority; (bc) any functional body, within the meaning of the Greater London Authority Act 1999;

No discretionary rate relief for functional bodies.

138

(1) Section 47 of the Local Government Finance Act 1988 (discretionary relief) shall be amended as follows.

(2) In subsection (9) (which provides that a hereditament is an excepted hereditament, and accordingly not eligible for relief, if all or part of it is occupied by any body there mentioned) at the end of paragraph (b) (which relates to precepting authorities) there shall be added

; or (c) a functional body, within the meaning of the Greater London Authority Act 1999

Local loans.

139

(1) In Schedule 4 to the National Loans Act 1968 (which specifies the bodies to which local loans may be made) in paragraph 1, in paragraph (a) of the definition of local authority, the word and immediately preceding sub-paragraph (iii) shall be omitted and after that sub-paragraph there shall be added

; and (iv) a functional body, within the meaning of the Greater London Authority Act 1999

(2) In section 2 of the Public Works Loans Act 1965 (new form of local loan and automatic charge for securing it) in subsection (1) (which includes a definition of relevant authority) in paragraph (a), the word and immediately preceding sub-paragraph (iii) shall be omitted and after that sub-paragraph there shall be added

; and (iv) a functional body, within the meaning of the Greater London Authority Act 1999

Functions of Mayor or Assembly under or by virtue of this Part.

140

(1) The functions conferred or imposed on the Authority under or by virtue of this Part shall be functions of the Authority which are exercisable by the Mayor acting on behalf of the Authority.

(2) Subsection (1) above does not apply in relation to any function expressly conferred or imposed on the Assembly.

Part IV — Transport

Chapter I — Transport functions of the Authority

The general transport duty

General transport duty.

141

(1) The Mayor shall develop and implement policies for the promotion and encouragement of safe, integrated, efficient and economic transport facilities and services to, from and within Greater London.

(2) The powers of the Authority under this Part shall be exercised for the purpose of securing the provision of the transport facilities and services mentioned in subsection (1) above.

(3) The transport facilities and services mentioned in subsection (1) above include facilities and services for pedestrians and are—

(a) those required to meet the needs of persons living or working in, or visiting, Greater London, and

(b) those required for the transportation of freight.

The transport strategy

The Mayor’s transport strategy.

142

(1) The Mayor shall prepare and publish a document to be known as the transport strategy containing—

(a) his policies under section 141(1) above, and

(b) his proposals for discharging the duty under section 141(2) above.

(2) In addition to containing the proposals and policies required by subsection (1) above, the transport strategy—

(a) shall contain the Mayor’s proposals for the provision of transport which is accessible to persons with mobility problems,

(b) shall specify a timetable for the implementation of the proposals contained in the transport strategy by virtue of paragraph (a) above, and

(3) Where the Mayor revises the transport strategy he shall publish it as revised.

(4) In preparing or revising the transport strategy the Mayor shall consult—

(a) the Disabled Persons Transport Advisory Committee, and

(b) such other persons or bodies which represent the interests of persons with mobility problems as he considers it appropriate to consult;

and this subsection is without prejudice to section 42 above.

(5) In this Act, references to the transport strategy include, except where the context otherwise requires, a reference to the transport strategy as revised.

Directions by the Secretary of State.

143

(1) Where the Secretary of State considers that—

(a) the transport strategy (or any part of it) is inconsistent with national policies relating to transport, and

(b) the inconsistency is detrimental to any area outside Greater London,

he may direct the Mayor to make such revisions of the transport strategy in order to remove the inconsistency as may be specified in the direction.

(2) Where the Secretary of State gives the Mayor a direction under subsection (1) above, the Mayor shall revise the transport strategy in accordance with the direction.

Duties of London borough councils etc.

144

(1) In exercising any function—

(a) a London borough council,

(b) the Common Council, and

is to have regard to the transport strategy.

(2) The Mayor may issue guidance in writing about the implementation of the transport strategy to any council, body or person falling within subsection (1) above.

(3) A council, body or person to whom guidance has been issued under subsection (2) above is to have regard to the guidance in exercising any function.

(4) In exercising any functions in relation to the management of roads or traffic in a Royal Park in Greater London the Secretary of State shall have regard to the transport strategy.

(5) In this section Royal Park means any park to which the Parks Regulation Act 1872 applies (see sections 1 and 3 of the Parks Regulation (Amendment) Act 1926).

Local implementation plans

Preparation of the plan.

145

(1) As soon as reasonably practicable after the Mayor has published the transport strategy under section 142 above, each London borough council shall prepare a plan (a local implementation plan) containing its proposals for the implementation of the transport strategy in its area.

(2) In preparing a local implementation plan under subsection (1) above, each London borough council shall consult—

(a) the relevant Commissioner or, if the council considers it appropriate, both Commissioners,

(b) Transport for London,

(d) each other London borough council whose area is, in the opinion of the council preparing the local implementation plan, likely to be affected by the plan, and

(e) any other body or person required to be consulted under this section by virtue of a direction given to the council by the Mayor under section 153 below.

(3) Each local implementation plan shall include—

(a) a timetable for implementing the different proposals in the plan, and

(b) the date by which all the proposals contained in the plan will be implemented.

(4) For the purposes of this section and sections 146 to 153 below, the Common Council shall be treated as if it were a London borough council.

(5) In subsection (2)(a) above, the relevant Commissioner means—

(a) in relation to a local implementation plan prepared by the Common Council, the Commissioner of Police for the City of London, and

(b) in relation to a local implementation plan prepared by a council other than the Common Council, the Commissioner of Police of the Metropolis.

Approval of plans by the Mayor.

146

(1) Each London borough council shall submit its local implementation plan to the Mayor for his approval.

(2) The Mayor may approve any local implementation plan submitted to him under subsection (1) above.

(3) The Mayor shall not approve a local implementation plan submitted to him under subsection (1) above unless he considers—

(a) that the local implementation plan is consistent with the transport strategy,

(b) that the proposals contained in the local implementation plan are adequate for the purposes of the implementation of the transport strategy, and

(c) that the timetable for implementing those proposals, and the date by which those proposals are to be implemented, are adequate for those purposes.

Power of the Mayor to prepare a plan.

147

(1) Where it appears to the Mayor that a London borough council has failed—

(a) to prepare a local implementation plan in accordance with the requirements of section 145 above, or

(b) to submit a local implementation plan to him for approval under section 146 above,

the Mayor may issue to the council a direction under section 153 below requiring the council to do so within such period as the Mayor shall specify in the direction.

(2) Where the Mayor has issued a direction of the kind mentioned in subsection (1) above, but the council has not complied with the direction within a reasonable time, the Mayor may prepare a local implementation plan on behalf of the council.

(3) Where the Mayor refuses to approve under subsection (2) of section 146 above a local implementation plan, the London borough council which submitted the plan shall prepare a new local implementation plan and submit it to the Mayor under subsection (1) of that section, unless the Mayor notifies the council that he intends to exercise his powers under subsection (4) below.

(4) Where the Mayor—

(a) refuses to approve a local implementation plan under section 146 above, and

(b) has served on the London borough council who prepared the local implementation plan a notice under subsection (3) above,

the Mayor may prepare a local implementation plan on behalf of the council.

(5) Where the Mayor prepares a local implementation plan on behalf of a London borough council, he shall in preparing the plan consult—

(a) the council on whose behalf he is preparing the plan,

(b) the relevant Commissioner or, if the Mayor considers it appropriate, both Commissioners,

(d) such organisations representative of disabled persons as the Mayor considers appropriate, and

(e) each other London borough council whose area is in the opinion of the Mayor likely to be affected by the plan.

(6) A local implementation plan prepared by the Mayor under this section shall include the matters required to be contained or included in the plan under section 145(1) and (3) above by a London borough council.

(7) Where the Mayor prepares a local implementation plan on behalf of a London borough council, he may recover from the council as a civil debt any reasonable expenses incurred by him in preparing the plan.

(8) In subsection (5)(b) above, the relevant Commissioner means—

(a) in relation to a local implementation plan prepared on behalf of the Common Council, the Commissioner of Police for the City of London, and

(b) in relation to a local implementation plan prepared on behalf of a council other than the Common Council, the Commissioner of Police of the Metropolis.

Revision.

148

(1) A London borough council may at any time prepare such revisions as it considers appropriate to the council’s local implementation plan.

(2) Where the Mayor revises the transport strategy under section 41(2) above, each London borough council shall as soon as reasonably practicable after the Mayor has published the transport strategy as revised prepare such revisions to the council’s local implementation plan as it considers are necessary in order to implement that strategy in its area.

(3) Where a London borough council considers that no revisions are required to be prepared under subsection (2) above the council shall notify the Mayor.

(4) For the purposes of this section, the local implementation plan, in relation to any London borough council, means whichever of the following has been most recently approved, or as the case may be, prepared, by the Mayor, namely—

(a) a local implementation plan prepared by the council and approved by the Mayor under section 146 above;

(b) a local implementation plan, as proposed by the council to be revised, approved by the Mayor under that section; and

Procedure for revision.

149

(1) In preparing any revisions under section 148 above a London borough council shall consult the bodies and persons required to be consulted under subsection (2) of section 145 above, taking the references in paragraph (d) of that subsection and in subsection (5) of that section to the local implementation plan as references to revisions under section 148 above.

(2) Each local implementation plan as proposed to be revised shall include the matters specified in section 145(1) and (3) above.

(3) The provisions of section 146 above shall apply to a London borough council’s local implementation plan as proposed to be revised as they apply to the council’s local implementation plan.

Power of the Mayor to prepare a revised plan.

150

(1) Where the Mayor has published the transport strategy as revised but it appears to the Mayor that a London borough council has failed—

(a) to prepare such revisions to the council’s local implementation plan, or

(b) to submit to him for approval such a local implementation plan as proposed to be revised,

as the Mayor considers necessary in order to implement in the council’s area the transport strategy as revised, the Mayor may issue to the council a direction under section 153 below requiring the council to do so within such period as the Mayor shall specify in the direction.

(2) Where the Mayor has issued a direction of the kind mentioned in subsection (1) above but the council has not complied with the direction within a reasonable time, the Mayor may prepare a revised local implementation plan on behalf of the council.

(3) Where the Mayor refuses to approve under subsection (2) of section 146 above a local implementation plan as proposed to be revised, the London borough council which submitted the plan shall prepare new revisions and submit to the Mayor under subsection (1) of that section a new local implementation plan as proposed to be revised, unless the Mayor notifies the council that he intends to exercise his powers under subsection (4) below.

(4) Where the Mayor—

(a) refuses to approve under subsection (2) of section 146 above a local implementation plan as proposed to be revised, and

(b) has served on the London borough council who submitted the plan a notice under subsection (3) above,

the Mayor may prepare a revised local implementation plan on behalf of the council.

(5) In preparing a revised local implementation plan the Mayor shall consult the bodies and persons required to be consulted under subsection (5) of section 147 above, taking the references in paragraphs (a) and (e) of that subsection and in subsection (8) of that section to a local implementation plan prepared on behalf of a London borough council as references to a revised local implementation plan prepared on behalf of such a council.

(6) A revised local implementation plan prepared by the Mayor under this section shall include the matters specified in section 145(1) and (3) above.

(7) Where the Mayor prepares a revised local implementation plan on behalf of a London borough council, he may recover from the council as a civil debt any reasonable expenses incurred by him in preparing the plan.

Implementation by a London borough council.

151

(1) Where the Mayor has approved a local implementation plan, or a local implementation plan as proposed to be revised, submitted to him under section 146(1) above, the London borough council which submitted the plan—

(a) shall implement the proposals contained in it in accordance with the timetable included by virtue of section 145(3)(a) above, or, as the case may be, section 149(2) above, and

(b) shall implement all the proposals contained in it by the date included by virtue of section 145(3)(b) above, or, as the case may be, section 149(2) above.

(2) Where the Mayor has prepared a local implementation plan or a revised local implementation plan on behalf of a London borough council under section 147 above, or, as the case may be, section 150 above, subsection (1) above shall apply in relation to the implementation by the council of the proposals contained in the plan as if the plan were a local implementation plan approved by the Mayor under section 146 above, or, as the case may be, a local implementation plan as proposed to be revised, approved by the Mayor u der that section.

Implementation by the Mayor.

152

(1) Where the Mayor considers—

(a) that a London borough council has failed, or is likely to fail, satisfactorily to implement any proposal contained in a local implementation plan as required by section 151(1)(a) above, or

(b) that such a council has failed, or is likely to fail, to implement all such proposals as required by section 151(1)(b) above,

he may, for the purposes of implementing the proposals contained in the local implementation plan, exercise on behalf of the council the powers that the council has in connection with the implementation of those proposals.

(2) Subsection (1) above applies in relation to a local implementation plan, as proposed to be revised, approved by the Mayor under section 146 above as it applies to a local implementation plan approved by the Mayor under that section.

(3) Where the Mayor considers that a London borough council has failed to comply with any direction issued by him under section 153 below, he may exercise on behalf of the council such of the powers of the council as are necessary for the purposes of ensuring that the direction is complied with.

(4) Anything done by the Mayor in the exercise of powers conferred on him by virtue of this section shall be treated for all purposes as if it had been done by the London borough council on whose behalf he exercises the powers.

(5) Where the Mayor proposes to exercise any of the powers of a London borough council by virtue of this section he may direct the council not to exercise those or any other powers, in such circumstances or in relation to such matters, as may be specified in the direction.

(6) Where the Mayor issues a direction to a London borough council under subsection (5) above, the council shall comply with the direction.

(7) Any reasonable expenses incurred by the Mayor in the exercise of the powers of a London borough council by virtue of this section shall be recoverable by him from the council as a civil debt.

Directions by the Mayor.

153

(1) The Mayor may issue to any London borough council—

(a) general directions as to the manner in which it is to exercise its functions under sections 145 to 151 above, or

(b) specific directions as to the manner in which it is to exercise those functions.

(2) Directions issued by the Mayor under subsection (1) above may include in particular directions—

(a) as to the timetable in accordance with which a local implementation plan or revisions to such a plan must be prepared,

(b) as to the bodies or persons who must be consulted about a local implementation plan or revisions to such a plan,

(d) as to the date mentioned in section 145(3)(b), 149(2) or 150(6) above,

(e) as to the action required to be taken to implement the proposals contained in the local implementation plan in accordance with that timetable or by that date, or

(f) as to the steps required to be taken to remove the effects of action which is incompatible with such proposals.

(3) The reference in subsection (2)(e) above to the local implementation plan includes a reference to—

(a) a local implementation plan, as proposed by a London borough council to be revised, approved by the Mayor under section 146 above; and

(b) a local implementation plan or revised local implementation plan prepared by the Mayor on behalf of a London borough council.

(4) Where the Mayor issues a direction to a London borough council under subsection (1) above, the council shall comply with the direction.

Chapter II — Transport for London

Establishment and control

Establishment.

154

(1) There shall be a body corporate to be known as Transport for London.

(2) Transport for London shall have the functions conferred or imposed on it by this Act, or made exercisable by it under this Act, and any reference in this Act to the functions of Transport for London includes a reference to any functions made exercisable by it under this Act.

(3) Transport for London shall exercise its functions—

(a) in accordance with such guidance or directions as may be issued to it by the Mayor under section 155(1) below,

(b) for the purpose of facilitating the discharge by the Authority of the duties under section 141(1) and (2) above, and

(4) Schedule 10 shall have effect with respect to Transport for London.

Directions etc by the Mayor.

155

(1) The Mayor may issue to Transport for London—

(a) guidance as to the manner in which it is to exercise its functions,

(b) general directions as to the manner in which it is to exercise its functions, or

(2) Directions issued by the Mayor under subsection (1)(c) above may include a direction not to exercise a power specified in the direction.

(3) The guidance or directions which may be issued by the Mayor under subsection (1) above may include in particular guidance or directions as to the manner in which Transport for London—

(a) is to perform any of its duties, or

(b) is to conduct any legal proceedings.

(4) Any guidance or directions issued under subsection (1) must be issued in writing and notified to such officer of Transport for London as it may from time to time nominate to the Mayor for the purpose.

Functions: general provisions

General powers.

156

(1) Transport for London may form, promote and assist, or join with any other person in forming, promoting and assisting, a company for the purpose of—

(a) carrying on any activities which Transport for London has power to carry on, or

(b) carrying on such activities together with activities which Transport for London does not have power to carry on.

(2) Transport for London may enter into and carry out agreements with any person for the carrying on by that person, whether as agent for Transport for London or otherwise, of any activities which Transport for London has power to carry on (and, in particular, with respect to the provision or financing of any public passenger transport services which Transport for London has power to provide).

(3) Transport for London may also enter into and carry out an agreement with any person for the carrying on by that person (the contractor) of any activities which Transport for London does not have power to carry on if the agreement includes provision for one or more of the following, namely—

(a) the carrying on by the contractor of such activities as are mentioned in subsection (2) above;

(b) the provision by the contractor to Transport for London of services ancillary to the provision of public passenger transport services; and

(c) the use by the contractor of land or other property owned by Transport for London, or transferred to the contractor by Transport for London, for the purposes of the agreement.

(4) Where an agreement has been entered into under subsection (2) or (3) above, the powers conferred on Transport for London by that subsection include power to enter into and carry out other agreements with other persons for the purpose of—

(a) fulfilling any condition which must be fulfilled before the agreement can have effect; or

(b) satisfying any requirement imposed by or under the agreement.

(5) Where—

(a) a company has been formed in the exercise of the powers conferred by subsection (1) above (whether by Transport for London alone or by Transport for London jointly with some other person); or

(b) Transport for London has entered into an agreement with any person in exercise of its powers under subsection (2) or (3) above;

Transport for London may enter into arrangements with that company or person for the transfer from Transport for London to that company or person, in such manner and on such terms (including payments by any of the parties to the arrangements to any of the other parties) as may be provided for by the arrangements, of any property, rights or liabilities of Transport for London relevant to the purpose for which the company was formed or (as the case may be) to the performance by that person of his obligatio s under the agreement.

(6) Without prejudice to section 173(1) or 176 below, Transport for London shall have power to enter into and carry out agreements with—

(a) any of its subsidiaries; or

(b) any person with whom it has entered into an agreement by virtue of subsection (2) or (3) above,

providing for Transport for London to give assistance to the other party to the agreement by making available to that party any services, amenities or facilities provided by, or any works or land or other property belonging to, Transport for London, on such terms (including the reciprocal provision by that other party of similar assistance for Transport for London) as may be agreed between them.

(7) The power of Transport for London under subsection (2) or (3) above to enter into an agreement as there mentioned is exercisable notwithstanding that the agreement involves the delegation of the functions of Transport for London under any enactment relating to any part of its undertaking.

(8) Schedule 11 to this Act shall have effect for conferring further powers on Transport for London for the purpose of the discharge by Transport for London of any of its functions and with respect to the other matters there mentioned.

Restriction on exercise of certain powers except through a company.

157

(1) The Secretary of State may by order made with the consent of the Treasury provide that Transport for London shall not carry on such activities as are specified in the order except through

(a) a limited liability partnership of which a subsidiary of Transport for London (but not Transport for London) is a member; or

(b) a company which is registered under the Companies Act 2006 and limited by shares or limited by guarantee and which is—

(i) a subsidiary of Transport for London; or

(ii) a company which Transport for London formed, or joined with others in forming, by virtue of section 156(1) above and which does not fall within sub-paragraph (i) above.

(2) The specification of an activity in an order under subsection (1) above shall not—

(a) prevent Transport for London from entering into or carrying out under section 156(2) or (3) above an agreement with a person for the carrying on of that activity by that person; or

(b) affect the validity of such an agreement.

(3) If it appears to the Secretary of State that Transport for London is carrying out, or proposes to carry out, otherwise than in compliance with an order under subsection (1) above any activities specified in such an order—

(a) the Secretary of State may give a direction to Transport for London requiring it to comply with the order within such period as may be specified for the purpose in the order; and

(b) Transport for London shall be under a duty to comply with such a direction.

(4) If Transport for London does not comply with a direction under subsection (3) above in the case of an activity to which the direction relates, Transport for London shall be treated in respect of the carrying out of that activity as not being a local authority for the purposes of—

(a) section 984 of the Corporation Tax Act 2010 (exemption of local authorities from corporation tax);

(aa) section 838 of the Income Tax Act 2007 (exemption of local authorities from income tax); and

(b) section 271 of the Taxation of Chargeable Gains Act 1992 (exemption of local authorities from capital gains tax).

Power of Mayor to transfer functions.

158

(1) For the purpose of enabling any person to carry on any activities for which provision is made by an agreement under section 156(2) or (3) above or by a transport subsidiary’s agreement, the Mayor may by order provide for any functions of Transport for London under any statutory provision to be exercisable by that person (whether to the exclusion of or concurrently with Transport for London).

(2) An order under this section may—

(a) provide for the functions to cease to be so exercisable when the activities cease to be carried on by that person (whether by reason of the expiry or termination of the agreement or otherwise); and

(b) make such supplementary, incidental and consequential provision as the Mayor considers expedient.

(3) The power of the Mayor to make an order under this section includes a power exercisable by order to revoke, amend or re-enact any such order.

(4) An order made by the Mayor under this section shall not have effect unless and until it is confirmed by an order made by the Secretary of State.

(5) This section does not apply to any function of Transport for London under this Act or any other statutory provision specifically amended by any provision of this Act.

(6) Any reference in this section to Transport for London includes a reference to a subsidiary of Transport for London.

Financial provisions

Financial assistance.

159

(1) Transport for London may give financial assistance to any body or person in respect of expenditure incurred or to be incurred by that body or person in doing anything which in the opinion of Transport for London is conducive to the provision of safe, integrated, efficient and economic transport facilities or services to, from or within Greater London.

(2) Financial assistance may be given under this section by way of grant, loan or other payment.

(3) The financial assistance that may be given to any London authority under this section includes in particular assistance in respect of any expenditure incurred or to be incurred by the authority in discharging any function of a highway authority or traffic authority.

(4) In deciding whether to give financial assistance to a London authority under this section, and if so the amount or nature of any such assistance, the matters to which Transport for London may have regard include—

(a) any financial assistance or financial authorisation previously given to the authority by any body or person, and

(b) the use made by the authority of such assistance or authorisation.

(5) In subsection (4) above, financial authorisation means authorisation allowing the authority to incur financial obligations.

(6) Financial assistance under this section may be given subject to such conditions as Transport for London considers appropriate, including (in the case of a grant) conditions for repayment in whole or in part in specified circumstances.

(7) In this section—

highway authority has the same meaning as in the Highways Act 1980 (see in particular sections 1 to 9 of that Act);

London authority means any London borough council or the Common Council; and

traffic authority has the same meaning as in the Road Traffic Regulation Act 1984 (see sections 121A and 142(1) of that Act).

(8) In section 88(2) of the Local Government Finance Act 1988 (list of defined councils to which transport grants are payable by the Secretary of State under section 87 of that Act)—

(a) at the end of paragraph (aa) there shall be inserted “ and ”; and

(b) paragraphs (c) and (d) (which include in the list of defined councils the London borough councils and the Common Council) shall cease to have effect.

(9) This section is without prejudice to any other power of Transport for London.

Guarantees.

160

(1) Transport for London may guarantee to discharge any financial obligation of—

(a) a subsidiary of Transport for London;

(b) any person (other than such a subsidiary) with whom Transport for London has entered into an agreement by virtue of section 156(2) or (3) above, where the guarantee is given for the purpose of enabling that person to carry out the agreement; or

(c) any person (other than such a subsidiary) with whom such a subsidiary has entered into a transport subsidiary’s agreement, where the guarantee is given for the purpose of enabling that person to carry out the agreement.

(2) Transport for London may, for the purposes of discharging any of its functions, guarantee to discharge any financial obligation incurred or to be incurred by any person for the purposes of—

(a) an undertaking carried on by him; or

(b) where the person is a body corporate, an undertaking carried on by a subsidiary of that body corporate.

(3) A guarantee under this section may be subject to such conditions as Transport for London considers appropriate.

(4) Transport for London may enter into arrangements with another person under which that person gives a guarantee which Transport for London has power to give under this section.

(5) Where Transport for London enters into arrangements by virtue of subsection (4) above, the arrangements may provide for Transport for London to indemnify the person who gives the guarantee.

(6) This section is without prejudice to any other power of Transport for London.

Reports and information

Annual report.

161

(1) Transport for London shall, as soon as possible after the end of each financial year, make to the Authority a report on the exercise and performance by Transport for London of its functions during the year.

(2) The report shall deal with—

(a) the contribution made by Transport for London towards the implementation of the transport strategy;

(b) the activities of any subsidiaries of Transport for London, so far as relevant to the performance of the functions of Transport for London during the year in question;

(d) any guarantees given under section 160(1) or (2) above;

(e) any arrangements entered into under section 160(4) above; and

(f) any indemnities given by virtue of section 160(5) above.

(3) The report made under this section in respect of any financial year shall include such information as the Mayor may from time to time specify in writing with respect to any matter the report is required to deal with by virtue of subsection (1) or (2) above.

(4) Transport for London shall publish any report made under this section.

(5) A copy of any report made under this section shall be kept available for the appropriate period by the Mayor for inspection by any person on request free of charge at the principal offices of the Authority at reasonable hours.

(6) A copy of any report made under this section, or any part of any such report, shall be supplied to any person on request during the appropriate period for such reasonable fee as the Mayor may determine.

(7) In this section the appropriate period in the case of a report under this section is the period of six years beginning with the date of publication of the report pursuant to this section.

Provision of information.

162

(1) Transport for London shall make available such information as it thinks fit which—

(a) relates to public passenger transport services provided to, from and within Greater London, and

(b) is required by members of the general public to assist in deciding what use to make of such services.

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