Paragraph 15 Disposal proceeds fund

(1)

Sub-paragraphs (2) to (7) apply in relation to determinations under sections 24 and 25 of the 1996 Act (disposal proceeds fund) so far as they are in force immediately before the commencement date in relation to English registered social landlords.

(2)

A determination under section 24(2)(d) of the 1996 Act is to be treated, on and after the commencement date, as a specification under section 177(2)(i) or (as the case may be) (j) of the 2008 Act (separate accounting).

(3)

A determination under section 24(3) of the 1996 Act is to be treated, on and after the commencement date, as a determination under section 177(3) of the 2008 Act.

(4)

A determination of the kind mentioned in section 24(5) of the 1996 Act is to be treated, on and after the commencement date, as a direction under section 177(4) of the 2008 Act.

(5)

A determination under section 24(6) of the 1996 Act is to be treated, on and after the commencement date, as a determination under section 177(7) of the 2008 Act.

(6)

A determination under section 25(1) of the 1996 Act is to be treated, on and after the commencement date, as a direction under section 178(1) of the 2008 Act.

(7)

A determination under section 25(2) of the 1996 Act is to be treated, on and after the commencement date, as a specification under section 178(3) of the 2008 Act (use of proceeds).

(8)

For the purposes of sub-paragraphs (2) to (7), the determinations concerned are to be read as modified accordingly.