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The London Authorities (Transfer of Housing Estates etc.) (No. 1) Order 1972

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2.  In respect of those properties described in paragraphs 1(b) of the Parts of the deposited Schedule, the Greater London Council shall remain liable for making all repayments of principal, interest or management expenses relating to the loan debt outstanding at the relevant date on the properties transferred, and the appropriate transferee authority shall with respect to such properties pay to the Greater London Council a capital sum or sums notified by the Greater London Council to the transferee authority as amounting in total to the cost of provision of the properties (including the cost of the land), such capital sum or sums to become payable either on the relevant date or, if not notified to the transferee authority by that date, on such later date or dates as may be specified by the Greater London Council.

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