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Schedule 3 CALCULATION OF SUBSIDY IN RESPECT OF RENT INCREASES

Original text. Later amendments are not shown.

For the purposes of article 5(1) the amount shall be calculated in accordance with the following formula–

A-A×113B

Where–

  • A is the amount of the qualifying expenditure attributable to allowances granted by the authority in the relevant year;

  • B is the average of the eligible rents of those persons in receipt, on 31st May 1989, of an allowance from the authority, expressed as a percentage of the average of the eligible rents of those persons so in receipt on 31st March 1988.