§ Mr. William Sheltonasked the Secretary of State for the Environment what estimate he has of the total rights and liabilities to be transferred to the residuary body arising from the activities of the Greater London enterprise board.
§ Mr. TraceyNo liabilities in relation to the Greater London enterprise board will pass to the London Residuary Body.
The London Residuary Body will have rights to receive payments in respect of mortgage loans made to the Greater London enterprise board by the Greater London council and, in the event of a winding up of the board, to receive the company's net assets.
§ Mr. William Sheltonasked the Secretary of State for the Environment how many consents he has given under section 137 of the Local Government Act 1985 in respect of grants to the Greater London enterprise board; and for what sums.
§ Mr. TraceyMy right hon. Friend has given five consents to the GLC under section 7 of the Local Government (Interim Provisions) Act 1984 to expenditure totalling £11.092 million by the GLC under section 137 of the Local Government Act 1972 in relation to the Greater London enterprise board. They are as follows:
1.—27 FEBRUARY 1985
£4.896 million—sufficient to:
- (a) meet GLEB's staffing and overheads costs first quarter of 1985–86;
- (b) allow GLEB to discharge all its 1985–86 section 137 contractual liabilities;
- (c) provide for some continuation investment.
2.— 5 JULY 1985
558W£1.107 million maintenance funding for GLEB's existing company investments.3.—25 JULY 1985
£0.964 million for GLEB's staffing and overheads for the second quarter of 1985–86.4.—14 OCTOBER 1985
£2 million for the balance of GLEB's staffing and overheads costs in 1985–86.In addition, consent was given on 14 October 1985 for the GLC to provide continuation funding of £2.125 million for the five technology networks set up by GLEB. This funding will be via GLEB's subsidiary Technet Ltd.
Consent to a further grant to GLEB for £8 million was refused on 12 March 1986.