# Housing Act 1996, Section 29: Commutation of payments of special residual subsidy.

Extent: E+W

(1) The Welsh Ministers may, after consultation with a housing association, determine to commute any payments of special residual subsidy payable to the association under paragraph 2 of Part I of Schedule 5 to the Housing Associations Act 1985 for the financial year 1998-99 and subsequent years.
(2) Where the Welsh Ministers make such a determination the payments of special residual subsidy payable to a housing association shall be commuted into a single sum calculated in such manner, and payable on such date, as the Welsh Ministers may consider appropriate.
(3) If after a commuted payment has been made to a housing association it appears to the Welsh Ministers that the payment was smaller or greater than it should have been, the Welsh Ministers may make a further payment to the association or require the association to repay to them such sum as they may direct.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1996/52/section/29 (the official version)
Page: https://openlegislation.uk/housing-act-1996/section-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.