Section 94 — Local Government Finance Act 1988: The City: further provisions.

The City: further provisions. 94 1 The Secretary of State may make regulations—

a about the relationship of the City fund to other funds of the Common Council;

b providing for assets falling within the City fund to be held in separate funds within the City fund;

c prohibiting the Common Council from establishing funds.

2 The regulations may provide that any fund established by the Common Council on or after 1 April 1990, and falling within a prescribed description, is to be maintained as a separate fund falling within the City fund.

3 The regulations may provide that such assets as are transferred to the City fund under section 93(6) above and fall within a prescribed description shall be held in separate funds falling within the City fund; and the number and composition of the separate funds shall be such as are prescribed.

4 The regulations may provide that the Common Council shall not establish or maintain on or after 1 April 1990 a fund into which both the following must or may be paid—

a sums which must be paid into the City fund under section 93(3) above, and b other sums.

5 The regulations may provide that the Common Council shall not establish or maintain on or after 1 April 1990 a fund from which both the following must or may be met—

a payments which must be met from the City fund under section 93(4) above, and b other payments.