16.—(1) The Greater London Council may nominate tenants to 100 per centum of the first lettings and of the vacancies occuring in the properties transferred by article 3 until the expiration of fifteen years from the relevant date or such other percentage or such earlier dates, as the case may be, as the Greater London Council may determine from time to time.
(2) Without prejudice to paragraph (1) of this article, the Greater London Council shall agree with a transferee authority, before 31st March 1973 terms (whether as to payment or otherwise) in respect of the nomination of tenants to the dwellings transferred.
(3) In default of agreement under paragraph (2) between the Greater London Council and a transferee authority the Secretary of State or an arbitrator appointed by him may determine what terms should be included in the arrangement.
(4) Nothing in this article shall affect any agreement as to nominations subsisting between the Greater London Council and a London borough council at the coming into operation of this order.