# Housing Act 1961, Paragraph 15


As respects any financial year beginning on or after the first day of April, nineteen hundred and sixty-one, the Fifth Schedule to the said Act (which relates to .the Housing Revenue Accounts of local authorities) shall apply—
(a) with the addition of the following sub-paragraph to paragraph 4 of that Schedule—
“(2) In the case of incomings and outgoings other than those mentioned in the foregoing provisions of this Schedule, directions under this paragraph may (instead of directing particular amounts to be credited or debited) direct generally that credits or debits shall be made in respect of incomings or outgoings of a kind specified in the direction”;
(b) with the substitution of the following paragraph for paragraph 5 of that Schedule—
“5 Any surplus shown in a Housing Revenue Account at the end of a financial year may be applied by the local authority, in whole or in part, in making good to the general rate fund any contribution credited to the account under sub-paragraphs (5) and (6) of paragraph 1 of this Schedule in any of the nine last preceding financial years, and, so far as not so applied, shall be carried to the credit of the account for the next financial year.”

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Source: https://www.legislation.gov.uk/ukpga/Eliz2/9-10/65/schedule/SECOND/paragraph/15 (the official version)
Page: https://openlegislation.uk/housing-act-1961/schedule-SECOND/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.