Section 118(5)

For the purposes of this section, the following sums, that is to say— shall be treated as revenue raised by the appropriate agency as mentioned in subsection (2) above in the corresponding flood risk management region or, as the case may be, in that local flood defence district. any sums held by the appropriate agency by virtue of any transfer of property, rights or liabilities from a water agency in accordance with a scheme under Schedule 2 to the Water Act 1989, in so far as those sums represent amounts which the water agency was required by virtue of paragraph 31 of Schedule 3 to the Water Act 1973 to spend only in the discharge of their land drainage functions in or for the benefit of a particular local land drainage district; and any sums raised by the appropriate agency in a flood risk management region by virtue of a precept issued under section 46 of the Land Drainage Act 1976,

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Source: legislation.gov.uk · retrieved 2026-07-30